Deere & Company $DE Shares Sold by Quintet Private Bank Europe S.A.

Key Points

• Quintet Private Bank Europe cut its Deere stake by 60.1% in the third quarter, selling 2,900 shares and retaining 1,928 shares valued at approximately $1.3 million. Institutional investors collectively own 68.58% of the company.
• Deere shares fell 1.2% to $648.73 amid broader industrial-sector pressure from rising Treasury yields, while regulators opened an inquiry into farm-equipment purchasing, servicing and repair practices.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $686.10; Evercore ISI upgraded the stock to Outperform with an $813 target. Deere also reported quarterly EPS and revenue above expectations and declared a $1.62 quarterly dividend.

Quintet Private Bank Europe S.A. decreased its position in Deere & Company (NYSE:DE - Free Report) by 60.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,928 shares of the industrial products company's stock after selling 2,900 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in Deere & Company were worth $1,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DE. BlackRock Inc. acquired a new position in shares of Deere & Company in the 2nd quarter valued at approximately $11,763,504,000. State Street Corp boosted its position in Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock valued at $4,898,717,000 after buying an additional 97,049 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Deere & Company by 84.3% during the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company's stock worth $1,959,209,000 after buying an additional 1,412,694 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Deere & Company during the second quarter worth $1,685,093,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Deere & Company during the second quarter worth $1,259,279,000. Institutional investors own 68.58% of the company's stock.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Evercore ISI upgraded Deere to Outperform and set an $813 price target, signaling improved confidence in the company’s outlook and offering potential upside from current levels. Evercore ISI upgrades Deere & Company to Outperform
• Positive Sentiment: Deere and Yamaha Motor announced a collaboration on future side-by-side vehicles. Yamaha will contribute powertrain and vehicle expertise, while Deere will provide vehicle-development capabilities and U.S. manufacturing. The partnership could expand Deere’s recreational vehicle offering and leverage both companies’ strengths. Yamaha Motor and John Deere announce collaboration
• Neutral Sentiment: Deere continues to be highlighted as an agriculture-technology investment, with exposure to precision farming and other “smart agriculture” trends. However, the report provided no new company-specific financial guidance. AgTech and food innovation stocks
• Negative Sentiment: The Federal Trade Commission and Department of Agriculture opened an inquiry into farm-equipment market practices. Regulators are seeking information about possible barriers to purchasing, servicing and repairing agricultural equipment. The investigation raises risks of greater competition, pricing restrictions or changes to Deere’s dealer and service model. Caterpillar and Deere stock fall as regulatory pressure continues
• Negative Sentiment: Surging Treasury yields pressured industrial stocks. Higher financing costs can make large equipment purchases less affordable for farmers and contractors, potentially weighing on demand and future orders. The broader industrial-sector selloff added to the pressure on Deere. Industrials sell off as Treasury yields rise

Deere & Company Stock Down 1.2%

DE traded down $8.14 during midday trading on Thursday, reaching $648.73. 601,773 shares of the company were exchanged, compared to its average volume of 1,360,998. Deere & Company has a one year low of $433.00 and a one year high of $721.22. 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 company's fifty day moving average price is $653.35 and its 200 day moving average price is $608.66. The company has a market cap of $174.91 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 2.50 and a beta of 0.86.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the business posted $4.75 EPS. The business's revenue was up 6.2% compared to the same quarter last year. As a group, analysts expect that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on DE shares. Robert W. Baird raised Deere & Company from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $640.00 to $800.00 in a report on Monday, August 31st. CICC Research started coverage on Deere & Company in a research report on Sunday, September 13th. They issued an "outperform" rating for the company. Nomura raised Deere & Company to a "buy" rating in a research note on Monday, August 31st. Citigroup boosted their price target on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $686.10.

About Deere & Company

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.