Moon Capital Management Lowers stake in Deere & Company (DE)

Deere & Company (DE) : Moon Capital Management reduced its stake in Deere & Company by 0.65% during the most recent quarter end. The investment management company now holds a total of 44,649 shares of Deere & Company which is valued at $3,457,619 after selling 294 shares in Deere & Company , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Deere & Company makes up approximately 4.36% of Moon Capital Management’s portfolio.

Deere & Company opened for trading at $77.18 and hit $78.48 on the upside on Monday, eventually ending the session at $78.32, with a gain of 1.14% or 0.88 points. The heightened volatility saw the trading volume jump to 22,43,109 shares. Company has a market cap of $24,696 M.

Other Hedge Funds, Including , Baker Boyer National Bank boosted its stake in DE in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 6,470 shares of Deere & Company which is valued at $501,037. Deere & Company makes up approx 2.33% of Baker Boyer National Bank’s portfolio.British Columbia Investment Management Corp boosted its stake in DE in the latest quarter, The investment management firm added 2,932 additional shares and now holds a total of 151,883 shares of Deere & Company which is valued at $11,505,137. Deere & Company makes up approx 0.11% of British Columbia Investment Management Corp’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 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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