Investors Buy Large Volume of Call Options on Deere & Company (NYSE:DE)

Deere & Company (NYSE:DEGet Free Report) was the recipient of unusually large options trading on Thursday. Stock investors bought 8,393 call options on the stock. This is an increase of 35% compared to the typical volume of 6,198 call options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DLK Investment Management LLC grew its position in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares during the period. Mattern Wealth Management LLC boosted its stake in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 25 shares during the last quarter. Carret Asset Management LLC grew its holdings in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the period. Round Rock Advisors LLC increased its stake in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 25 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 25 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Oppenheimer upped their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Truist Financial upped their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $442.83.

Check Out Our Latest Analysis on DE

Deere & Company Price Performance

Shares of DE stock opened at $478.90 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $479.48. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm’s 50 day moving average is $436.95 and its 200-day moving average is $404.80. The firm has a market capitalization of $130.43 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.26 EPS. Sell-side analysts forecast that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Deere & Company Company Profile

(Get Free Report)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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