Deere & Company (NYSE:DE) Short Interest Update

Deere & Company (NYSE:DE) was the target of a significant increase in short interest in 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 daily volume of 1,210,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. TD Private Client Wealth LLC boosted its position in Deere & Company by 3.9% in the third quarter. TD Private Client Wealth LLC now owns 1,979 shares of the industrial products company’s stock worth $826,000 after purchasing an additional 74 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Deere & Company by 29.3% in the third quarter. Sunbelt Securities Inc. now owns 847 shares of the industrial products company’s stock valued at $354,000 after buying an additional 192 shares during the period. Toronto Dominion Bank raised its stake in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares during the period. First Dallas Securities Inc. bought a new stake in shares of Deere & Company in the third quarter valued at $351,000. Finally, Geode Capital Management LLC raised its stake in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.4 %

DE stock opened at $404.63 on Tuesday. The stock’s fifty day simple moving average is $404.38 and its two-hundred day simple moving average is $385.70. 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 has a 1-year low of $340.20 and a 1-year high of $420.47. The stock has a market cap of $110.71 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DE. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased 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. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $420.69.

About Deere & Company

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.