Deere & Company $DE Position Decreased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Deere position by 13.3% in the third quarter, selling 93,547 shares and retaining 609,079 shares valued at approximately $409 million. Institutional investors collectively own 68.58% of the company.
• Deere shares opened at $675.03, with the stock up 2.3%; the company recently exceeded earnings expectations with $5.10 in quarterly EPS and $12.61 billion in revenue. Deere also declared a quarterly dividend of $1.62, representing a 1.0% annual yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $688.10, though declining wheat prices could weaken farmers’ finances and reduce demand for new equipment.

Sumitomo Mitsui Trust Group Inc. lowered its position in Deere & Company (NYSE:DE - Free Report) by 13.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 609,079 shares of the industrial products company's stock after selling 93,547 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Deere & Company worth $409,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Deere & Company during the second quarter valued at approximately $27,000. Kilter Group LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $29,000. Solstein Capital LLC acquired a new stake in Deere & Company in the second quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new position in Deere & Company in the second quarter worth $32,000. Finally, Downshift Financial LLC grew its holdings in Deere & Company by 218.8% in the third quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock worth $34,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 2.3%

Shares of DE stock opened at $675.03 on Friday. The stock's 50-day simple moving average is $663.79 and its 200-day simple moving average is $604.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm has a market capitalization 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 fifty-two week low of $454.50 and a fifty-two week high of $721.22.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 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 firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the previous year, the company posted $4.75 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Key Deere & Company News

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America upped their price target on Deere & Company from $667.00 to $715.00 in a research report on Thursday, September 24th. DA Davidson raised their price objective on Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. CICC Research began coverage on Deere & Company in a research note on Sunday, September 13th. They set an "outperform" rating on the stock. Citigroup boosted their target price on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $585.00 to $625.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $688.10.

Deere & 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.

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