Short Interest in Deere & Company (NYSE:DE) Grows By 6.9%
Deere & Company (NYSE:DE – Get Free Report) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,110,000 shares, a growth of 6.9% from the October 31st total of 2,910,000 shares. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is currently 2.1 days. Approximately 1.2% of the company’s stock are sold short.
Analyst Ratings Changes
DE has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Deere & Company from $493.00 to $460.00 and set a “buy” rating for the company in a research note on Monday, August 21st. UBS Group upped their price target on Deere & Company from $383.00 to $408.00 and gave the stock a “neutral” rating in a research note on Monday, August 21st. HSBC began coverage on shares of Deere & Company in a research report on Friday, September 15th. They set a “buy” rating and a $486.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of Deere & Company from $400.00 to $375.00 and set a “hold” rating for the company in a research report on Monday, November 27th. Finally, Bank of America cut their price target on shares of Deere & Company from $455.00 to $422.50 in a report on Wednesday, October 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $443.60.
Read Our Latest Research Report on Deere & Company
Deere & Company Trading Up 1.2 %
DE stock traded up $4.40 during midday trading on Friday, hitting $368.81. The stock had a trading volume of 1,764,888 shares, compared to its average volume of 1,795,376. The firm has a market cap of $106.22 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.90 and a quick ratio of 1.70. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company’s 50-day moving average price is $375.72 and its 200 day moving average price is $393.77.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $8.26 EPS for the quarter, beating analysts’ consensus estimates of $7.46 by $0.80. Deere & Company had a return on equity of 45.91% and a net margin of 16.60%. The business had revenue of $13.80 billion during the quarter, compared to the consensus estimate of $13.64 billion. During the same quarter in the previous year, the business earned $7.44 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 29.24 earnings per share for the current fiscal year.
Insider Buying and Selling at Deere & Company
In related news, insider Ryan D. Campbell sold 6,073 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $379.19, for a total value of $2,302,820.87. Following the completion of the sale, the insider now directly owns 18,519 shares of the company’s stock, valued at $7,022,219.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Deere & Company
Large investors have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Deere & Company by 98,818.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,922,881 shares of the industrial products company’s stock worth $6,451,792,000 after acquiring an additional 15,906,784 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Deere & Company by 41,880.9% in the first quarter. Providence Capital Advisors LLC now owns 5,703,524 shares of the industrial products company’s stock worth $13,814,000 after purchasing an additional 5,689,938 shares during the period. Morgan Stanley boosted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Deere & Company by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,890,455 shares of the industrial products company’s stock valued at $1,975,565,000 after buying an additional 83,329 shares during the period. Finally, FMR LLC boosted its holdings in shares of Deere & Company by 9.5% in the 1st quarter. FMR LLC now owns 4,393,214 shares of the industrial products company’s stock valued at $1,813,871,000 after buying an additional 381,506 shares during the period. 66.27% of the stock is owned by institutional investors and hedge funds.
Deere & Company Company Profile (Get Free Report)
Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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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Original: MarketBeat News Feed: Short Interest in Deere & Company (NYSE:DE) Grows By 6.9%