Baring Asset Management Ltd buys $12,433,305 stake in Deere & Company (DE)

Deere & Company (DE) : Baring Asset Management Ltd scooped up 135,600 additional shares in Deere & Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 158,487 shares of Deere & Company which is valued at $12,433,305.Deere & Company makes up approximately 0.98% of Baring Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Douglas Lane Associates reduced its stake in DE by selling 695 shares or 19.72% in the most recent quarter. The Hedge Fund company now holds 2,829 shares of DE which is valued at $221,935. Deere & Company makes up approx 0.01% of Douglas Lane Associates’s portfolio.Country Club Trust Company N.a. reduced its stake in DE by selling 250 shares or 8.77% in the most recent quarter. The Hedge Fund company now holds 2,600 shares of DE which is valued at $208,312. Deere & Company makes up approx 0.03% of Country Club Trust Company N.a.’s portfolio.Dearborn Partners reduced its stake in DE by selling 500 shares or 14.56% in the most recent quarter. The Hedge Fund company now holds 2,935 shares of DE which is valued at $243,047. Deere & Company makes up approx 0.02% of Dearborn Partners’s portfolio.Central Bank Trust Co reduced its stake in DE by selling 100 shares or 24.33% in the most recent quarter. The Hedge Fund company now holds 311 shares of DE which is valued at $25,801. Deere & Company makes up approx 0.01% of Central Bank Trust Co’s portfolio.

Deere & Company closed down -0.46 points or -0.59% at $77.71 with 37,53,890 shares getting traded on Friday. Post opening the session at $77.27, the shares hit an intraday low of $77.132 and an intraday high of $78.1835 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. 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 was Upgraded by Goldman to ” Buy” on Jun 3, 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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