Forsta Ap-fonden Lowers stake in Deere & Company (DE)

Deere & Company (DE) : Forsta Ap-fonden reduced its stake in Deere & Company by 35.07% during the most recent quarter end. The investment management company now holds a total of 692,783 shares of Deere & Company which is valued at $57,133,814 after selling 374,104 shares in Deere & Company , the firm said in a disclosure report filed with the SEC on May 10, 2016.Deere & Company makes up approximately 14.07% of Forsta Ap-fonden’s portfolio.

Other Hedge Funds, Including , Burney Co boosted its stake in DE in the latest quarter, The investment management firm added 1,253 additional shares and now holds a total of 195,342 shares of Deere & Company which is valued at $15,910,606. Deere & Company makes up approx 1.17% of Burney Co’s portfolio.Douglass Winthrop Advisors boosted its stake in DE in the latest quarter, The investment management firm added 6,849 additional shares and now holds a total of 370,698 shares of Deere & Company which is valued at $31,179,409. Deere & Company makes up approx 2.23% of Douglass Winthrop Advisors’s portfolio.Conning boosted its stake in DE in the latest quarter, The investment management firm added 170 additional shares and now holds a total of 32,939 shares of Deere & Company which is valued at $2,770,499. Deere & Company makes up approx 0.12% of Conning’s portfolio.Physicians Financial Services reduced its stake in DE by selling 40 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 6,141 shares of DE which is valued at $516,520. Deere & Company makes up approx 0.47% of Physicians Financial Services’s portfolio.

Deere & Company opened for trading at $82.71 and hit $84.135 on the upside on Monday, eventually ending the session at $83.63, with a gain of 1.41% or 1.16 points. The heightened volatility saw the trading volume jump to 23,02,947 shares. Company has a market cap of $26,371 M.

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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