Beacon Financial Group buys $9,914,182 stake in Deere & Company (DE)

Deere & Company (DE) : Beacon Financial Group scooped up 2,923 additional shares in Deere & Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 116,473 shares of Deere & Company which is valued at $9,914,182.Deere & Company makes up approximately 2.09% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , 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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