Acropolis Investment Management Lowers stake in Deere & Company (DE)

Deere & Company (DE) : Acropolis Investment Management reduced its stake in Deere & Company by 1.96% during the most recent quarter end. The investment management company now holds a total of 23,220 shares of Deere & Company which is valued at $1,976,486 after selling 465 shares in Deere & Company , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Deere & Company makes up approximately 0.37% of Acropolis Investment Management’s portfolio.

Other Hedge Funds, Including , Stillwater Investment Management boosted its stake in DE in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 15,709 shares of Deere & Company which is valued at $1,337,150. Deere & Company makes up approx 0.73% of Stillwater Investment Management’s portfolio.Eqis Capital Management reduced its stake in DE by selling 104 shares or 1.89% in the most recent quarter. The Hedge Fund company now holds 5,389 shares of DE which is valued at $458,712. Deere & Company makes up approx 0.03% of Eqis Capital Management’s portfolio.Norman Fields Gottscho Capital Management boosted its stake in DE in the latest quarter, The investment management firm added 3,534 additional shares and now holds a total of 98,227 shares of Deere & Company which is valued at $8,361,082. Deere & Company makes up approx 5.57% of Norman Fields Gottscho Capital Management’s portfolio.Washington Trust Bank reduced its stake in DE by selling 413 shares or 33.31% in the most recent quarter. The Hedge Fund company now holds 827 shares of DE which is valued at $70,394. Deere & Company makes up approx 0.02% of Washington Trust Bank’s portfolio.Cullinan Associates Inc boosted its stake in DE in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 81,920 shares of Deere & Company which is valued at $6,973,030. Deere & Company makes up approx 0.60% of Cullinan Associates Inc’s portfolio.

Deere & Company closed down -0.65 points or -0.76% at $84.7 with 21,26,319 shares getting traded on Tuesday. Post opening the session at $85.55, the shares hit an intraday low of $84.65 and an intraday high of $86.24 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Deutsche Bank Initiated Deere & Company on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $90.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 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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