Meristem Llp Lowers stake in Deere & Company (DE)

Deere & Company (DE) : Meristem Llp reduced its stake in Deere & Company by 1.99% during the most recent quarter end. The investment management company now holds a total of 21,551 shares of Deere & Company which is valued at $1,726,666 after selling 437 shares in Deere & Company , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Deere & Company makes up approximately 0.74% of Meristem Llp’s portfolio.

Other Hedge Funds, Including , Cibc World Markets boosted its stake in DE in the latest quarter, The investment management firm added 2,662 additional shares and now holds a total of 46,279 shares of Deere & Company which is valued at $3,707,873. Deere & Company makes up approx 0.02% of Cibc World Markets’s portfolio. Murphy Capital Management Inc added DE to its portfolio by purchasing 3,750 company shares during the most recent quarter which is valued at $310,538. Deere & Company makes up approx 0.05% of Murphy Capital Management Inc’s portfolio.Nisa Investment Advisors boosted its stake in DE in the latest quarter, The investment management firm added 4,825 additional shares and now holds a total of 139,553 shares of Deere & Company which is valued at $11,697,332. Deere & Company makes up approx 0.15% of Nisa Investment Advisors’s portfolio.Neville Rodie Shaw Inc reduced its stake in DE by selling 150 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 12,555 shares of DE which is valued at $1,041,563. Deere & Company makes up approx 0.12% of Neville Rodie Shaw Inc’s portfolio.

Deere & Company closed down -0.28 points or -0.36% at $78.17 with 40,12,409 shares getting traded on Thursday. Post opening the session at $78.48, the shares hit an intraday low of $77.81 and an intraday high of $78.555 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Deere & Company reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 20, 2016. Analyst had a consensus of $1.48. The company had revenue of $7107.00 million for the quarter, compared to analysts expectations of $6659.63 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.03 EPS.

Many Wall Street Analysts have commented on Deere & Company. Deere & Company was Downgraded by Piper Jaffray to ” Underweight” on Jul 25, 2016. Deere & Company was Upgraded by Goldman to ” Buy” on Jun 3, 2016. Company shares were Upgraded by UBS on May 31, 2016 to ” Buy”, Firm has raised the Price Target to $ 94 from a previous price target of $82 .

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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