Beacon Financial Group Lowers stake in Deere & Company (DE)

Deere & Company (DE) : Beacon Financial Group reduced its stake in Deere & Company by 0.26% during the most recent quarter end. The investment management company now holds a total of 112,207 shares of Deere & Company which is valued at $8.6 Million after selling 296 shares in Deere & Company according to a report filed by the company on Apr 1, 2016 with the SEC.Deere & Company makes up approximately 1.86% of Beacon Financial Group’s portfolio.

On the company’s financial health, Deere & Company reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 19, 2016. Analyst had a consensus of $0.70. The company had revenue of $4769.00 million for the quarter, compared to analysts expectations of $4861.77 million. The company’s revenue was down -14.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.12 EPS.

Many Wall Street Analysts have commented on Deere & Company. Argus Upgraded Deere & Company on Feb 24, 2016 to ” Buy”, Price Target of the shares are set at $85.

Deere & Company closed down -0.56 points or -0.73% at $75.75 with 16,68,867 shares getting traded on Monday. Post opening the session at $76.46, the shares hit an intraday low of $75.75 and an intraday high of $77.16 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf construction and forestry and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts. The Company’s construction and forestry segment primarily manufactures and distributes a range of machines and service parts used in construction earthmoving material handling and timber harvesting. The Company’s financial services segment primarily provides credit services which include finance sales and leases by John Deere dealers of new and used agriculture and turf equipment and construction and forestry equipment.

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