Deere & Company (NYSE:DE) Short Interest Update

Deere & Company (NYSE:DE) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,370,000 shares, an increase of 9.6% from the October 15th total of 4,900,000 shares. Based on an average trading volume of 1,210,000 shares, the short-interest ratio is currently 4.4 days. Currently, 2.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently made changes to their positions in DE. Oppenheimer Asset Management Inc. increased its holdings in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Balentine LLC bought a new stake in Deere & Company in the third quarter worth approximately $710,000. Royal Fund Management LLC increased its holdings in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares in the last quarter. Finally, New Century Financial Group LLC bought a new stake in Deere & Company in the third quarter worth approximately $1,052,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $404.63 on Tuesday. The business’s 50-day moving average price is $404.38 and its 200-day moving average price is $385.70. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The firm has a market capitalization of $110.71 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DE. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Oppenheimer lowered their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup increased their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Bank of America increased their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $420.69.

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.