PNC Financial Services Group Inc. Sells 10,624 Shares of Deere & Company (NYSE:DE)

PNC Financial Services Group Inc. lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Everence Capital Management Inc. raised its stake in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC raised its stake in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Compass Financial Services Inc bought a new stake in Deere & Company in the 4th quarter valued at $254,000. Toronto Dominion Bank raised its stake in Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock valued at $36,288,000 after acquiring an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp raised its stake in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 68.58% of the company's stock.

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Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Evercore ISI increased their price target on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Citigroup increased their price target on Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, StockNews.com cut Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $457.22.

Deere & Company Price Performance

Shares of DE traded up $16.89 during trading hours on Friday, hitting $499.73. 2,615,248 shares of the company were exchanged, compared to its average volume of 1,513,524. The company has a market cap of $135.63 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. 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 firm's fifty day moving average is $461.21 and its 200 day moving average is $430.21.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued 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 is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

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.