Deere & Company (NYSE:DE) Short Interest Update

Deere & Company (NYSE:DE) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 5,360,000 shares, a growth of 5.1% from the January 15th total of 5,100,000 shares. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 4.0 days. Approximately 2.1% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages recently weighed in on DE. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup raised their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $450.12.

Deere & Company Price Performance

Shares of NYSE:DE opened at $501.40 on Wednesday. The stock has a market cap of $136.56 billion, a PE ratio of 19.59, a PEG ratio of 2.87 and a beta of 0.98. The company’s fifty day moving average is $448.71 and its 200 day moving average is $418.73. Deere & Company has a 52 week low of $340.20 and a 52 week high of $502.10. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. Deere & Company’s payout ratio is presently 28.72%.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently modified their holdings of DE. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter valued at about $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Finally, Orion Capital Management LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.