Deere & Company (NYSE:DE) Sees Significant Growth in Short Interest

by · The Markets Daily

Deere & Company (NYSE:DE – Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 5,520,000 shares, a growth of 10.6% from the September 15th total of 4,990,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its stake in shares of 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. Harbor Investment Advisory LLC boosted its holdings in shares of Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares in the last quarter. Aviance Capital Partners LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $2,783,000. Range Financial Group LLC lifted its holdings in Deere & Company by 5.2% in the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 27 shares during the period. Finally, Royal Fund Management LLC raised its position in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 1.3 %

Shares of NYSE:DE traded down $5.19 during mid-day trading on Thursday, reaching $404.18. The stock had a trading volume of 1,018,761 shares, compared to its average volume of 1,471,922. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a 50 day simple moving average of $390.66 and a two-hundred day simple moving average of $385.36. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The firm has a market cap of $111.38 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company earned $10.20 earnings per share. On average, research analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent research reports. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Raymond James assumed coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $420.69.

Read Our Latest Stock Analysis on DE

Deere & Company Company Profile

(Get Free Report)

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.

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