PNC Financial Services Group Inc. Has $127.86 Million Stock Holdings in Deere & Company $DE

PNC Financial Services Group Inc. reduced its holdings in shares of Deere & Company (NYSE:DE) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,444 shares of the industrial products company’s stock after selling 6,900 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Deere & Company worth $127,857,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DE. OLD National Bancorp IN grew its holdings in Deere & Company by 2.6% during the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after acquiring an additional 610 shares during the last quarter. Providence Capital Advisors LLC boosted its stake in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc grew its position in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Deere & Company in the first quarter valued at approximately $13,588,000. Finally, United Asset Strategies Inc. bought a new position in Deere & Company in the first quarter valued at approximately $2,496,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Jefferies Financial Group cut their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of Deere & Company in a research report on Tuesday, October 28th. Zacks Research downgraded shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $479.22 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market cap of $129.55 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. The stock’s 50-day moving average is $466.00 and its 200-day moving average is $490.69. Deere & Company has a one year low of $387.03 and a one year high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 EPS. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

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.