East Coast Asset Management. buys $4,781,526 stake in Deere & Company (DE)

Deere & Company (DE) : East Coast Asset Management. scooped up 9,043 additional shares in Deere & Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 60,587 shares of Deere & Company which is valued at $4,781,526.Deere & Company makes up approximately 2.50% of East Coast Asset Management.’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in DE by selling 37,087 shares or 4.71% in the most recent quarter. The Hedge Fund company now holds 750,777 shares of DE which is valued at $58,553,098. Deere & Company makes up approx 0.06% of Ubs Asset Management Americas Inc’s portfolio.Norinchukin Bank The reduced its stake in DE by selling 63,693 shares or 37.13% in the most recent quarter. The Hedge Fund company now holds 107,833 shares of DE which is valued at $8,409,896. Deere & Company makes up approx 0.20% of Norinchukin Bank The’s portfolio.Cibc Asset Management Inc boosted its stake in DE in the latest quarter, The investment management firm added 3,462 additional shares and now holds a total of 36,361 shares of Deere & Company which is valued at $2,847,430. Deere & Company makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.Gateway Investment Advisers boosted its stake in DE in the latest quarter, The investment management firm added 51,972 additional shares and now holds a total of 328,021 shares of Deere & Company which is valued at $27,212,622. Deere & Company makes up approx 0.23% of Gateway Investment Advisers’s portfolio.

Deere & Company closed down -0.72 points or -0.92% at $77.43 with 27,64,648 shares getting traded on Wednesday. Post opening the session at $78, the shares hit an intraday low of $77.24 and an intraday high of $78.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. Shares were Downgraded by UBS on Jul 29, 2016 to ” Neutral” and Lowered the Price Target to $ 80 from a previous price target of $94 .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.

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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