Deere & Company (NYSE:DE) Short Interest Up 7.9% in January

Deere & Company (NYSE:DE) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,340,000 shares, an increase of 7.9% from the December 31st total of 4,950,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 4.5 days. Currently, 2.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group downgraded 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 report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Trading Up 0.5 %

Shares of DE stock opened at $469.18 on Tuesday. The stock has a market cap of $127.78 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.94 and a beta of 0.98. The stock has a 50-day moving average of $444.68 and a 200-day moving average of $410.23. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.26 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.38%. Deere & Company’s dividend payout ratio is presently 25.31%.

Institutional Investors Weigh In On Deere & Company

A number of hedge funds have recently added to or reduced their stakes in the business. Robertson Stephens Wealth Management LLC boosted its position in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after purchasing an additional 22 shares in the last quarter. DLK Investment Management LLC grew its stake in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after acquiring an additional 24 shares during the period. Quent Capital LLC increased its holdings in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 24 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the period. Finally, Mattern Wealth Management LLC lifted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

About Deere & Company

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.