Ironwood Investment Counsel buys $2.9 Million stake in Deere & Company (DE)

Deere & Company (DE) : Ironwood Investment Counsel scooped up 4,394 additional shares in Deere & Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 34,702 shares of Deere & Company which is valued at $2.9 Million.Deere & Company makes up approximately 1.50% of Ironwood Investment Counsel’s portfolio.

Other Hedge Funds, Including , Mizuho Asset Managementltd. reduced its stake in DE by selling 1,643 shares or 40.95% in the most recent quarter. The Hedge Fund company now holds 2,369 shares of DE which is valued at $195,371. Deere & Company makes up approx 0.05% of Mizuho Asset Managementltd.’s portfolio. Howard Hughes Medical Institute sold out all of its stake in DE during the most recent quarter. The investment firm sold 288 shares of DE which is valued $23,751.Prentiss Smith Co Inc boosted its stake in DE in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 7,163 shares of Deere & Company which is valued at $583,426. Deere & Company makes up approx 0.34% of Prentiss Smith Co Inc’s portfolio.Great West Life Assurance Co Can reduced its stake in DE by selling 165,633 shares or 45.82% in the most recent quarter. The Hedge Fund company now holds 195,831 shares of DE which is valued at $16.5 Million. Deere & Company makes up approx 0.06% of Great West Life Assurance Co Can’s portfolio. Northpointe Capital added DE to its portfolio by purchasing 1,200 company shares during the most recent quarter which is valued at $100,932. Deere & Company makes up approx 0.01% of Northpointe Capital’s portfolio.

Deere & Company opened for trading at $80.18 and hit $80.88 on the upside on Wednesday, eventually ending the session at $80.49, with a gain of 1.07% or 0.85 points. The heightened volatility saw the trading volume jump to 29,23,614 shares. Company has a market cap of $25,381 M.

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. Company shares were Reiterated by Piper Jaffray on May 23, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $75 .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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