Deere & Company (NYSE:DE) Short Interest Down 5.4% in November

Deere & Company (NYSE:DE) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 5,080,000 shares, a decline of 5.4% from the October 31st total of 5,370,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 4.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DE. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the second quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter valued at approximately $32,000. Olistico Wealth LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $37,000. Centennial Bank AR lifted its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.7 %

DE stock opened at $462.70 on Tuesday. The stock has a fifty day moving average of $413.25 and a 200-day moving average of $388.13. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market capitalization of $126.59 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.99 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the business earned $8.26 earnings per share. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 19.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Truist Financial increased their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $436.41.

Deere & Company Company Profile

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.