Deere & Company (NYSE:DE) Short Interest Update

Deere & Company (NYSE:DE - Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 3,750,000 shares, an increase of 16.5% from the July 15th total of 3,220,000 shares. Currently, 1.5% of the company's stock are short sold. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial reaffirmed a "buy" rating and set a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a report on Thursday, August 8th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a "market perform" rating and a $400.00 price objective for the company. TD Cowen increased their price objective on Deere & Company from $383.00 to $390.00 and gave the company a "hold" rating in a report on Friday, May 17th. Finally, Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They issued an "outperform" rating and a $420.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $422.35.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company's stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company's stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DE. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Fairscale Capital LLC bought a new position in Deere & Company in the second quarter valued at about $26,000. Rakuten Securities Inc. bought a new position in Deere & Company in the fourth quarter valued at about $28,000. Finally, Naples Money Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $29,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

DE stock traded up $4.66 during trading hours on Friday, hitting $377.92. 2,103,088 shares of the stock were exchanged, compared to its average volume of 1,549,985. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $104.14 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a 50-day simple moving average of $367.47 and a two-hundred day simple moving average of $380.45. Deere & Company has a 12 month low of $340.20 and a 12 month high of $425.42.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $11.39 billion for the quarter, compared to analysts' expectations of $10.94 billion. During the same quarter last year, the business earned $10.20 earnings per share. Deere & Company's revenue was down 20.3% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, June 28th. Deere & Company's payout ratio is currently 17.70%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.