Friday, 15 December, 2017

What's in Deere & Company (NYSE:DE) After Decline in Shorted Shares?

Deere & Company - DE - Stock Price Today - Zacks SEC FORM 4 - SEC.gov
Juana Turner | 24 November, 2017, 00:57

Deere & Co. shares rose more than 4% on Wednesday after the company's quarterly earnings easily beat estimates and it forecast continued growth in demand for farm equipment next year. The stock closed the regular trading session at $139.23 yesterday, compared to the closing price of $136.92 the previous day - a change of 1.69 percent.

Deere & Company (NYSE:DE) is at overbought status with an RSI (14) at 82.08. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. Finally, Brown Advisory Inc. raised its position in Deere & Company by 2.0% in the fourth quarter. The company's revenue was up 25.6% compared to the same quarter last year. equities research analysts anticipate that Deere & Company will post 6.51 earnings per share for the current fiscal year. The equipment company reported earnings per share of $6.68 on revenue of $29.74 billion for the year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.65%. Deere &'s dividend payout ratio is now 40.20%.

DE has been the subject of several recent analyst reports. Credit Suisse Group AG set a $132.00 price objective on shares of Deere & Company and gave the stock a "buy" rating in a research report on Friday, February 17th. That transaction was set to be finalized next month, Deere said Wednesday.

On August 23 analysts at Stifel Nicolaus released research on DE stating a rating of "Buy" and a price target of $135.00. Zacks Investment Research lowered Deere & from a "buy" rating to a "hold" rating in a report on Monday, August 21st. ValuEngine upgraded Deere & from a "hold" rating to a "buy" rating in a research note on Friday, September 1st. The company has an average rating of "Hold" and a consensus price target of $133.43. The sales growth over the last 5 years is at -3.60% while earning per share for the last 12 months is at 5.99. The shares were sold on November 2nd for an average price of $134.89. Following the transaction, the insider now owns 49,562 shares in the company, valued at approximately $6,590,754.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Pentz Markwart Von, Pres.Ag&TurfDiv.Eur.Asia, Afr. sold $405,030 worth of shares at a price of $135.01 on November 3rd. The total volume of shares traded was 8,086,166 which puts the relative volume at 3.65 for the day. Following the completion of the sale, the chief executive officer now directly owns 299,596 shares in the company, valued at approximately $32,775,802.40. Insiders have sold a total of 102,684 shares of company stock worth $13,270,809 in the last 90 days.

The stock of Deere & Company (NYSE:DE) registered a decrease of 18.06% in short interest. Parallel Advisors LLC now owns 1,504 shares of the industrial products company's stock worth $167,000 after buying an additional 193 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Deere & by 1.4% during the 1st quarter. The performance this quarter is at 25.82% while the weekly performance is at 9.81%. Dimensional Fund Advisors LP lifted its holdings in Deere & by 1.2% in the 1st quarter. Hennessy Advisors Inc. now owns 18,700 shares of the industrial products company's stock worth $2,349,000 after purchasing an additional 700 shares in the last quarter. LA Financiere DE L Echiquier purchased a new position in Deere & Company during the third quarter worth $2,987,000.

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