Core Insights - Deere & Company has appointed Brian Sikes, the board chair and CEO of Cargill, to its board of directors, enhancing its leadership with expertise in global food and agriculture [1][2] - Sikes brings extensive experience from Cargill, where he has held various leadership roles since 1991, and he became CEO in 2023, overseeing operations in over 70 countries [2][3] - With Sikes' appointment, Deere's board now consists of 11 members, with 10 being independent, non-employee directors [3] Company Overview - Deere & Company is a global leader in agricultural, construction, and forestry equipment, focusing on productivity and sustainability [4] - The company offers technology-enabled products, such as the John Deere Autonomous 8R Tractor and See & Spray™, to address the increasing global demand for food, shelter, and infrastructure [4]

Core Insights - Tariffs on steel and aluminum have significantly impacted U.S. manufacturing, particularly affecting equipment makers and farm machinery manufacturers due to increased input costs [1][2] - Deere & Company reported Q3 earnings of $3.93 per share on revenue of approximately $12.4 billion, exceeding sales expectations, but shares fell over 5% due to a projected $1.2 billion pre-tax tariff impact for fiscal 2026, nearly double the current year's effect [3][6] - The company's market value is around $125.6 billion, with a forward dividend payout of $6.48 per share and a yield of about 1.33%, supported by a dividend payout ratio of 32.95% [4] Financial Performance - Deere's fourth-quarter net income was approximately $1.065 billion, or $3.93 per share, compared to $1.245 billion, or $4.55 per share, a year earlier, slightly missing the $3.96 consensus [6] - Worldwide net sales and revenues increased by 11% to roughly $12.394 billion in the quarter, although full-year revenues decreased by 12% to about $45.684 billion due to cooling agricultural demand and margin pressures from tariffs [7] - The shares are trading around $468, reflecting a year-to-date increase of roughly 10% and a 1% rise over the past 52 weeks, with a valuation of approximately 24.18x forward earnings compared to a sector median of 20.33x [5][6]

Group 1: Analyst Ratings Adjustments - JPMorgan has significantly reduced its price target for Evoke PLC (EVOK) from 66p to 34p, indicating a nearly 50% decrease in outlook for the company [3][10] - The price target for Flutter Entertainment (FLTR, FLUT) has been lowered from 27,100p to 25,300p, reflecting cautious sentiment in the entertainment and gaming sector [4][10] - For EPR Properties (EPR), JPMorgan adjusted its target price down to $58 from $65, following a previous increase in September 2025 [5][10] - Daiwa Capital Markets has made a minor adjustment to Deere & Co (DE), lowering its target from $530 to $520 amid mixed analyst sentiments [8][10] Group 2: Geopolitical Concerns - A Taiwanese minister has warned that the ongoing tensions between China and Japan could last for another year, which may impact regional stability and trade [7][10]

Group 1 - Deere & Company will host its investor day event on December 8, 2025, at 10:30 a.m. eastern time, where senior leadership will discuss strategic ambitions and growth opportunities with analysts and investors [1] - The live webcast and presentation materials for the investor day can be accessed on the company's investor website, with recorded materials available afterward [2] - Deere reported a net income of $1.065 billion for the fourth quarter ended November 2, 2025, translating to $3.93 per share, and a total net income of $5.027 billion for the fiscal year [3]

Raymond James将迪尔股份的目标价从560美元下调至545美元，维持"跑赢大盘"评级。(格隆汇) ...

Core Viewpoint - RBC Capital has lowered the price target for Deere (DE) to $541 from $542 while maintaining an Outperform rating on the shares, indicating a positive outlook despite the slight reduction in target price [1]. Financial Performance - Deere reported solid Q4 results, although net income was below consensus expectations, impacted by approximately $1.2 billion of pre-tax tariff effects [1]. - The introduction of F26 guidance reflects the company's strategic planning for future performance [1]. Inventory and Operations - RBC Capital views Deere's progress in inventory management and growth in Equipment Operations positively, suggesting a strong operational foundation for the company [1].

Core Viewpoint - UBS analyst Steven Fisher maintains a Buy rating and a price target of $535 on Deere (DE) shares, indicating confidence in the company's future performance despite a slightly lower initial FY26 earnings guidance midpoint [1] Group 1: Earnings and Guidance - The Q4 results and outlook for Deere were described as "directionally consistent" with UBS's expectations, establishing 2026 as the agricultural bottom [1] - The initial FY26 earnings guidance midpoint is slightly lower than UBS's previous model, attributed mainly to a weak Q1 in North America [1] - UBS expresses increased confidence in 2026 as the earnings bottom and anticipates a recovery in 2027 following the report [1]

Company Overview - Deere & Company (NYSE: DE) is a prominent manufacturer in the agricultural, construction, and forestry machinery sectors, recognized for its green and yellow equipment [1] - The company competes with major players such as Caterpillar and CNH Industrial [1] Stock Performance - The current stock price of DE is $469.87, reflecting a decrease of 5.67% or $28.26 [4] - The stock has fluctuated between $469.46 and $487.82 today, with a yearly high of $533.78 and a low of $403.01 [4] - DE's market capitalization is approximately $127 billion, with a trading volume of 5,471,364 shares on the NYSE [4] Analyst Insights - Jamie Cook from Truist Financial has set a price target of $612 for DE, indicating a potential increase of 30.25% from the current price [5][1] Investor Sentiment - Advisors Asset Management Inc. has reduced its stake in DE by 30.8%, now holding 8,434 shares valued at approximately $4.3 million after selling 3,753 shares [2] - Conversely, Brighton Jones LLC increased its stake by 39.1% during the fourth quarter, acquiring an additional 1,278 shares for a total of 4,548 shares valued at $1.9 million [3] - Mackenzie Financial Corp also raised its holdings by 9.6% in the same period, indicating confidence in DE's growth potential [3]

Core Insights - Deere & Company reported strong fourth-quarter results with earnings per share of $3.93, surpassing the consensus estimate of $3.88, and a quarterly sales increase of 11% year-over-year to $12.39 billion, exceeding the consensus of $9.85 billion [1][3] Financial Performance - The company achieved its best results in the current cycle despite challenges, attributed to structural improvements and diverse customer segments [2] - For fiscal 2026, Deere expects net income to range from $4.0 billion to $4.75 billion, indicating a year-over-year decline of 20% to 5.5%, with projected operating cash flow of $4.0 billion to $5.0 billion [3] Sales Projections - Deere anticipates a decline in production and precision agriculture sales by 5% to 10% for fiscal 2026, while small agriculture and turf revenue, along with construction and forestry sales, are expected to rise by approximately 10% [3] Stock Performance - Following the earnings announcement, Deere shares increased by 0.6%, trading at $472.82 [3] Analyst Ratings - RBC Capital maintained an Outperform rating with a price target adjustment from $542 to $541 [6] - Truist Securities maintained a Buy rating and raised the price target from $609 to $612 [6] - Evercore ISI Group maintained an In-Line rating, lowering the price target from $487 to $458 [6]

Core Insights - Deere & Company reported strong fourth-quarter results with earnings per share of $3.93, surpassing the consensus estimate of $3.88, and a quarterly sales increase of 11% year-over-year to $12.39 billion, exceeding the consensus of $9.85 billion [1][3] Financial Performance - The company achieved its best results in the current cycle despite facing challenges and uncertainties, attributed to structural improvements and diverse customer segments [2] - For fiscal 2026, Deere expects net income to range from $4.0 billion to $4.75 billion, indicating a year-over-year decline of 20% to 5.5%, with projected operating cash flow of $4.0 billion to $5.0 billion [3] Sales Projections - Deere anticipates a decline in production and precision agriculture sales by 5% to 10% for fiscal 2026, while small agriculture and turf revenue, along with construction and forestry sales, are expected to rise by approximately 10% [3] Stock Performance - Following the earnings announcement, Deere shares increased by 0.6%, trading at $472.82 [3] Analyst Ratings - RBC Capital analyst maintained an Outperform rating but lowered the price target from $542 to $541 [6] - Truist Securities analyst kept a Buy rating and raised the price target from $609 to $612 [6] - Evercore ISI Group analyst maintained an In-Line rating and reduced the price target from $487 to $458 [6]