PNC Financial Services Group Inc. Sells 14,009 Shares of Deere & Company (NYSE:DE)

PNC Financial Services Group Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 276,507 shares of the industrial products company’s stock after selling 14,009 shares during the period. PNC Financial Services Group Inc.’s holdings in Deere & Company were worth $115,395,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Fairscale Capital LLC acquired a new position in Deere & Company during the second quarter worth approximately $26,000. Pineridge Advisors LLC increased its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter worth approximately $32,000. Olistico Wealth LLC acquired a new position in Deere & Company during the second quarter worth approximately $37,000. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $400.13 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company’s 50 day moving average price is $404.63 and its two-hundred day moving average price is $385.69. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $109.47 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.