Peddock Capital Advisors adds Deere & Company (DE) to its portfolio

Deere & Company (DE) : Peddock Capital Advisors added new position in Deere & Company during the most recent quarter end. The investment management firm now holds 3,363 shares of Deere & Company which is valued at $290,563 , the company said in a statement filed on Oct 14, 2016 with the SEC.Deere & Company makes up approximately 0.19% of Peddock Capital Advisors’s portfolio.

Other Hedge Funds, Including , Webster Bank N. A. boosted its stake in DE in the latest quarter, The investment management firm added 3,195 additional shares and now holds a total of 11,136 shares of Deere & Company which is valued at $962,150. Deere & Company makes up approx 0.14% of Webster Bank N. A.’s portfolio. Alta Capital Management sold out all of its stake in DE during the most recent quarter. The investment firm sold 12,165 shares of DE which is valued $1,050,326.Carl Domino Inc reduced its stake in DE by selling 600 shares or 5.61% in the most recent quarter. The Hedge Fund company now holds 10,095 shares of DE which is valued at $878,770. Deere & Company makes up approx 0.84% of Carl Domino Inc’s portfolio.Jacobs Coca boosted its stake in DE in the latest quarter, The investment management firm added 3,130 additional shares and now holds a total of 40,947 shares of Deere & Company which is valued at $3,582,453. Deere & Company makes up approx 0.80% of Jacobs Coca’s portfolio.Chevy Chase Trust Holdings reduced its stake in DE by selling 13,672 shares or 5.35% in the most recent quarter. The Hedge Fund company now holds 242,073 shares of DE which is valued at $20,605,254. Deere & Company makes up approx 0.11% of Chevy Chase Trust Holdings’s portfolio.

Deere & Company opened for trading at $86.88 and hit $87.29 on the upside on Friday, eventually ending the session at $86.4, with a gain of 0.07% or 0.06 points. The heightened volatility saw the trading volume jump to 18,00,740 shares. Company has a market cap of $27,166 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. Deere & Company was Upgraded by Wells Fargo to ” Outperform” on Oct 10, 2016. 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 .

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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