Simplex Trading Lowers stake in Deere & Company (DE)

Deere & Company (DE) : Simplex Trading reduced its stake in Deere & Company by 41.92% during the most recent quarter end. The investment management company now holds a total of 3,540 shares of Deere & Company which is valued at $305,502 after selling 2,555 shares in Deere & Company , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Deere & Company makes up approximately 0.04% of Simplex Trading’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.Cardinal Capital Management reduced its stake in DE by selling 6,620 shares or 5.52% in the most recent quarter. The Hedge Fund company now holds 113,318 shares of DE which is valued at $9,645,628. Deere & Company makes up approx 1.09% of Cardinal Capital 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.

Deere & Company opened for trading at $85.28 and hit $86.665 on the upside on Friday, eventually ending the session at $86.3, with a gain of 1.18% or 1.01 points. The heightened volatility saw the trading volume jump to 29,22,678 shares. Company has a market cap of $27,135 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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