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

Deere & Company (DE) : Neumann Capital Management reduced its stake in Deere & Company by 19.08% during the most recent quarter end. The investment management company now holds a total of 13,785 shares of Deere & Company which is valued at $1,061,445 after selling 3,250 shares in Deere & Company , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Deere & Company makes up approximately 0.69% of Neumann Capital Management’s portfolio.

Other Hedge Funds, Including , Mizuho Asset Managementltd. boosted its stake in DE in the latest quarter, The investment management firm added 1,315 additional shares and now holds a total of 3,684 shares of Deere & Company which is valued at $283,668. Deere & Company makes up approx 0.05% of Mizuho Asset Managementltd.’s portfolio.Central Trust Co reduced its stake in DE by selling 638 shares or 5.18% in the most recent quarter. The Hedge Fund company now holds 11,680 shares of DE which is valued at $910,923. Deere & Company makes up approx 0.07% of Central Trust Co’s portfolio.Rdl Financial Inc boosted its stake in DE in the latest quarter, The investment management firm added 395 additional shares and now holds a total of 40,314 shares of Deere & Company which is valued at $3,156,989. Deere & Company makes up approx 2.28% of Rdl Financial Inc’s portfolio.Jolley Asset Management boosted its stake in DE in the latest quarter, The investment management firm added 487 additional shares and now holds a total of 1,075 shares of Deere & Company which is valued at $86,129. Deere & Company makes up approx 0.07% of Jolley Asset Management’s portfolio.

Deere & Company opened for trading at $79.51 and hit $88.09 on the upside on Friday, eventually ending the session at $87.32, with a gain of 13.49% or 10.38 points. The heightened volatility saw the trading volume jump to 2,37,35,606 shares. Company has a market cap of $27,441 M.

On the company’s financial health, Deere & Company reported $1.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.61 according to the earnings call on Aug 19, 2016. Analyst had a consensus of $0.94. The company had revenue of $5861.00 million for the quarter, compared to analysts expectations of $6026.59 million. The company’s revenue was down -14.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.53 EPS.

Many Wall Street Analysts have commented on Deere & Company. Company shares were Reiterated by RBC Capital Mkts on Aug 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $72 .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 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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