IronBridge Private Wealth LLC Makes New Investment in Deere & Company $DE

Key Points

• IronBridge Private Wealth initiated a position in Deere, buying 3,028 shares worth approximately $2.03 million in the third quarter. Institutional investors own 68.58% of the company’s stock.
• Deere beat quarterly estimates, reporting EPS of $5.10 versus a $4.69 consensus and revenue of $12.61 billion versus $10.81 billion expected; revenue rose 6.2% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $688.10. Deere also plans to close two Iowa facilities as it consolidates production.

IronBridge Private Wealth LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,028 shares of the industrial products company's stock, valued at approximately $2,033,000.

Other institutional investors also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Deere & Company in the second quarter worth $27,000. Kilter Group LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth about $29,000. Solstein Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth about $30,000. Orion Capital Management LLC bought a new position in Deere & Company in the 2nd quarter worth about $32,000. Finally, Downshift Financial LLC boosted its stake in Deere & Company by 218.8% in the 3rd quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock worth $34,000 after purchasing an additional 35 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on DE. CICC Research began coverage on shares of Deere & Company in a research report on Sunday, September 13th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a report on Thursday, October 8th. Citigroup lifted their target price on shares of Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. UBS Group dropped their target price on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a research note on Friday, August 21st. Finally, Truist Financial cut their price target on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a report on Monday, August 24th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $688.10.

Deere & Company Stock Up 0.1%

Deere & Company stock opened at $671.99 on Monday. Deere & Company has a one year low of $455.90 and a one year high of $721.22. The stock has a market cap of $181.18 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89. 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 stock has a fifty day moving average of $667.02 and a 200 day moving average of $608.14.

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

Deere & Company Announces Dividend

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

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Deere’s See & Spray technology was cited as an example of AI improving farm productivity; the system can reduce pesticide use by as much as 75%. That efficiency potential may support customer economics and demand for Deere’s precision-agriculture offerings. Are eBay and Deere stocks under-the-radar AI beneficiaries?
• Positive Sentiment: A Zacks article included Deere among AgriTech and food-innovation stocks, pointing to strategic investment, operational improvements, and growth opportunities as reasons it may suit investors seeking portfolio stability. 2 AgriTech and Food Innovation Stocks to Buy for a Stable Portfolio
• Neutral Sentiment: Recent coverage compares Deere with Kubota (KUBTY) for value investors but the provided summaries do not say which company comes out ahead. The comparison alone offers no clear new signal on Deere’s valuation. KUBTY vs. DE: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Deere plans to close two Iowa facilities and consolidate production, including moving small-planter production and shifting work to its Ankeny plant. The restructuring could improve efficiency over time, but closures and associated disruption may concern investors in the near term. John Deere Consolidates U.S. Plants, Will Close 2 Iowa Factories

About Deere & Company

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