Deere & Company (NYSE:DE) Short Interest Down 12.9% in March

Deere & Company (NYSE:DEGet Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 4,346,333 shares, a drop of 12.9% from the February 26th total of 4,991,541 shares. Based on an average daily trading volume, of 1,279,668 shares, the short-interest ratio is presently 3.4 days. Approximately 1.6% of the company’s shares are short sold.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently made changes to their positions in DE. The Manufacturers Life Insurance Company raised its position in shares of Deere & Company by 30.6% during the second quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock worth $185,143,000 after purchasing an additional 85,351 shares during the period. Csenge Advisory Group lifted its stake in Deere & Company by 84.9% in the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock valued at $3,402,000 after buying an additional 3,416 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Deere & Company in the second quarter valued at approximately $3,615,000. WINTON GROUP Ltd bought a new stake in shares of Deere & Company in the second quarter valued at about $4,550,000. Finally, Compagnie Lombard Odier SCmA raised its position in Deere & Company by 66.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after buying an additional 10,974 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company News Roundup

Here are the key news stories impacting Deere & Company this week:

Deere & Company Stock Up 1.3%

Shares of Deere & Company stock opened at $562.92 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The business’s 50 day simple moving average is $581.59 and its 200-day simple moving average is $511.06. The stock has a market capitalization of $152.05 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.94 and a beta of 0.96. Deere & Company has a twelve month low of $404.42 and a twelve month high of $674.19.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 EPS. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.2%. Deere & Company’s payout ratio is presently 36.53%.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $715.00 target price on shares of Deere & Company in a research report on Friday, February 20th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Sanford C. Bernstein raised their price objective on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Morgan Stanley upped their target price on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $644.70.

Read Our Latest Report on DE

About Deere & Company

(Get Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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