Sumitomo Mitsui Trust Group Inc. Sells 57,780 Shares of Deere & Company $DE

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Deere & Company (NYSE:DE) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 735,324 shares of the industrial products company’s stock after selling 57,780 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Deere & Company worth $414,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its holdings in Deere & Company by 1.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 81,170 shares of the industrial products company’s stock valued at $45,603,000 after acquiring an additional 1,403 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich lifted its position in shares of Deere & Company by 1,792.7% in the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 5,186 shares of the industrial products company’s stock worth $2,921,000 after acquiring an additional 4,912 shares during the period. CFS Investment Advisory Services LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $265,000. Cahaba Wealth Management Inc. grew its holdings in shares of Deere & Company by 15.8% during the 1st quarter. Cahaba Wealth Management Inc. now owns 907 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 124 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Deere & Company by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,916 shares of the industrial products company’s stock valued at $16,288,000 after purchasing an additional 116 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Key Stories Impacting Deere & Company

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

• Positive Sentiment: The settlement removes a major legal overhang and uncertainty tied to Deere’s right-to-repair antitrust dispute. WI DOJ announces settlement in antitrust lawsuit against Deere & Company
• Positive Sentiment: Deere said the agreement reinforces its commitment to diagnostic and repair tools for farmers, which may help limit further regulatory pressure and support customer relationships. John Deere Reinforces Commitment to Diagnostic and Repair Tools for Farmers Under Agreement with FTC and States
• Neutral Sentiment: Investors are also still watching Deere’s broader fundamentals, including softer large-agriculture demand and a valuation that has already recovered significantly from earlier lows. Deere Falls as Investors Revisit Large-Ag Weakness and Valuation Risk
• Negative Sentiment: The right-to-repair deal may pressure Deere’s control over equipment servicing and could narrow profit opportunities in its high-margin aftermarket ecosystem over time. Settlement announced in Deere antitrust lawsuit

Deere & Company Trading Down 1.2%

Shares of DE opened at $596.64 on Thursday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $580.63 and a 200-day simple moving average of $565.99. The stock has a market cap of $161.06 billion, a PE ratio of 33.80, a PEG ratio of 2.23 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $6.64 EPS. On average, sell-side analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DE. Barclays upped their target price on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research note on Wednesday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. DA Davidson dropped their price objective on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $642.23.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.