Deere & Company $DE Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 13.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 609,079 shares of the industrial products company’s stock after selling 93,547 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Deere & Company were worth $409,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DE. BlackRock Inc. acquired a new stake in Deere & Company during the 2nd quarter worth about $11,763,504,000. Bank of America Corp DE purchased a new position in shares of Deere & Company during the 2nd quarter valued at about $1,685,093,000. Bank of New York Mellon Corp acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $1,259,279,000. Legal & General Group Plc acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $957,456,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Deere & Company by 84.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after buying an additional 1,412,694 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Deere was largely insulated from the machinery-sector selloff that hit Caterpillar after its moderate outlook. The relative resilience suggests investors viewed Deere’s farm-equipment exposure and outlook more favorably. Caterpillar Drops 7% as Moderate Sales Outlook Overshadows Beat; Deere Sits Out the Selloff
• Positive Sentiment: Analysts highlighted smart-farming technology, automation and cost controls as potential support for Deere, particularly as long-term agricultural demand and equipment investment improve. Zacks Industry Outlook Highlights Deere & Co., Kubota and CNH Industrial
• Positive Sentiment: One valuation analysis estimates Deere may be undervalued by approximately 16%, with cybersecurity developments adding a potential catalyst if the company can strengthen its technology and risk-management position. Deere Stock May Be 16% Undervalued on AI Cyberattack News
• Neutral Sentiment: Analysts expect Deere’s upcoming fourth-quarter report to show a single-digit increase in profit, keeping earnings expectations in focus ahead of the release. Deere & Company’s Earnings: What to Expect
• Negative Sentiment: Wheat’s prolonged decline is pressuring farmers’ incomes and balance sheets, which could eventually reduce demand for new agricultural equipment or delay replacement purchases. Farmers Are Getting Crushed as Wheat Slides for a Record Stretch

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays upped their target price on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 21st. DA Davidson boosted their price target on Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a report on Monday, August 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a report on Monday, August 24th. Finally, Nomura upgraded Deere & Company to a “buy” rating in a research report on Monday, August 31st. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $688.10.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $675.03 on Friday. The firm has a market cap of $182.00 billion, a PE ratio of 37.50, a P/E/G ratio of 2.47 and a beta of 0.86. Deere & Company has a twelve month low of $454.50 and a twelve month high of $721.22. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The business has a 50-day moving average price of $663.79 and a 200 day moving average price of $604.16.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the business posted $4.75 earnings per share. Deere & Company’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s payout ratio is 36.00%.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.