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

PNC Financial Services Group Inc. cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,507 shares of the industrial products company's stock after selling 14,009 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.10% of Deere & Company worth $115,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mattern Wealth Management LLC increased its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company's stock valued at $786,000 after acquiring an additional 25 shares during the last quarter. Carret Asset Management LLC increased its holdings in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company's stock valued at $3,401,000 after acquiring an additional 25 shares during the last quarter. Round Rock Advisors LLC increased its holdings 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 valued at $522,000 after acquiring an additional 25 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company's stock valued at $433,000 after acquiring an additional 26 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its holdings in shares of Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company's stock valued at $1,459,000 after acquiring an additional 26 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.1 %

Shares of DE opened at $400.13 on Wednesday. The stock has a fifty day moving average price of $404.63 and a two-hundred day moving average price of $385.69. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a market cap of $109.47 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. HSBC lowered Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Twelve investment 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 a consensus price target 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.

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