Short Interest in Deere & Company (NYSE:DE) Declines By 6.6%

Deere & Company (NYSE:DE) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 4,800,000 shares, a decline of 6.6% from the December 15th total of 5,140,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is presently 2.7 days.

Shares of NYSE:DE traded up $0.26 on Thursday, reaching $174.06. The company’s stock had a trading volume of 12,499 shares, compared to its average volume of 1,181,616. The stock’s 50-day moving average is $172.16 and its two-hundred day moving average is $166.72. Deere & Company has a 52-week low of $132.68 and a 52-week high of $180.48. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.04 and a quick ratio of 1.80. The stock has a market capitalization of $54.67 billion, a P/E ratio of 17.55, a PEG ratio of 4.11 and a beta of 1.13.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 27th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.01. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The business had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.41 billion. During the same period in the prior year, the company earned $2.30 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 9.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.75%. Deere & Company’s payout ratio is 30.58%.

In related news, insider Rajesh Kalathur sold 12,151 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $164.32, for a total value of $1,996,652.32. Following the completion of the sale, the insider now directly owns 55,178 shares of the company’s stock, valued at $9,066,848.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 5,075 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $173.38, for a total transaction of $879,903.50. Following the completion of the sale, the chief executive officer now directly owns 49,157 shares of the company’s stock, valued at $8,522,840.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,228 shares of company stock valued at $26,934,906. Insiders own 0.71% of the company’s stock.

Large investors have recently made changes to their positions in the company. KLCM Advisors Inc. grew its position in shares of Deere & Company by 4.7% in the third quarter. KLCM Advisors Inc. now owns 1,319 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 59 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Deere & Company by 69.7% during the third quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 62 shares during the period. Beaton Management Co. Inc. raised its stake in Deere & Company by 1.1% during the third quarter. Beaton Management Co. Inc. now owns 6,276 shares of the industrial products company’s stock worth $1,059,000 after purchasing an additional 68 shares during the period. FormulaFolio Investments LLC raised its stake in Deere & Company by 1.6% during the fourth quarter. FormulaFolio Investments LLC now owns 5,173 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 82 shares during the period. Finally, Ridgewood Investments LLC raised its stake in Deere & Company by 2.8% during the third quarter. Ridgewood Investments LLC now owns 3,274 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 89 shares during the period. 67.53% of the stock is owned by institutional investors and hedge funds.

DE has been the subject of a number of research reports. Deutsche Bank reissued a “hold” rating and issued a $169.00 price target (up from $155.00) on shares of Deere & Company in a research report on Wednesday, November 20th. Citigroup reduced their price target on shares of Deere & Company from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. UBS Group reduced their price target on shares of Deere & Company from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Friday, November 29th. Robert W. Baird set a $178.00 price target on shares of Deere & Company and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays set a $180.00 price target on shares of Deere & Company and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $172.79.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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