PNC Financial Services Group Inc. Trims Holdings in Deere & Company (NYSE:DE)

PNC Financial Services Group Inc. lowered its holdings in Deere & Company (NYSE:DE) by 3.8% in the 4th quarter, according to the company in 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 quarter. PNC Financial Services Group Inc.’s holdings in Deere & Company were worth $112,655,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Robertson Stephens Wealth Management LLC lifted its position in Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares during the period. DLK Investment Management LLC increased its stake in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 24 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Round Rock Advisors LLC boosted its position in shares of Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. 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 research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. Finally, Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $457.22.

Deere & Company Trading Up 3.5 %

Shares of NYSE:DE opened at $499.73 on Friday. The stock’s 50-day simple moving average is $461.21 and its two-hundred day simple moving average is $429.83. The stock 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. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Deere & Company 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.