PNC Financial Services Group Inc. Has $112.66 Million Stock Holdings in Deere & Company (NYSE:DE)

PNC Financial Services Group Inc. lessened its holdings in shares of Deere & Company (NYSE:DE) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 265,883 shares of the industrial products company’s stock after selling 10,624 shares during the period. PNC Financial Services Group Inc. owned 0.10% of Deere & Company worth $112,655,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company in the 4th quarter valued at $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC grew its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 3.5 %

NYSE DE opened at $499.73 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $135.63 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.14 and a beta of 1.01. The stock’s 50-day simple moving average is $461.21 and its two-hundred day simple moving average is $429.83. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.30%. Deere & Company’s payout ratio is 28.72%.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Evercore ISI lifted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $457.22.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.