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PNC Financial Services Group manages $43 billion in equity assets primarily through its investment advisory subsidiary PNC Wealth Management, which controls the PNC Series of mutual funds.

Investment Strategy:
PNC employs both growth and value approach to investing. The firm primarily invests in small- to large-cap companies utilizing a combination of fundamental and quantitative analysis. The firm utilizes a top-down approach in allocating assets and a bottom-up strategy in selecting stocks. PNC holds stock for the long term and has a very low turnover of 15.20% annually.

The following is a list of its top 15 buys by market value in the last quarter, as released in its most recent 13F filing with the SEC.

Stock

Symbol

Shares Held - 03/31/2011

General Electric Co.

GE

29,629,320

Wisconsin Energy Corp.

WEC

3,433,440

Eaton Corporation

ETN

1,568,097

Qualcomm Incorporated

QCOM

3,051,197

Borgwarner Inc.

BWA

550,750

Northeast Utilities

NU

958,582

Hess Corporation

HES

487,171

Monsanto Co.

MON

668,401

Tiffany & Co.

TIF

750,428

Walgreen Co.

WAG

1,480,762

Texas Instruments Inc.

TXN

1,513,738

eBay Inc.

EBAY

1,472,303

Starbucks Corp.

SBUX

1,794,150

Archer Daniels Midland Company

ADM

413,153

Deere & Company

DE

926,522

Here are some of the specifics about these companies, including a brief description of their business, growth rates (top-line and bottom-line) and Valuation:

General Electric Company

PNC purchased 17407958 shares of
General Electric Co. last quarter and now holds a total of 29629320 shares. This position is 1.45% of its portfolio. The share price of General Electric has increased from $18.29 on December 31, 2010 to $20.04 on March 31, 2011.

General Electric Company is a diversified technology, media and financial services company. The company’s products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. General Electric’s EPS forecast for the current year is 1.36 and next year is 1.66. According to the consensus estimates, its top line is expected to decline 2.80% in the current year and 0.40% next year. It is trading at a forward P/E of 12.1. Out of 18 analysts covering the company, 12 are positive and have buy recommendations and six have hold ratings.

Wisconsin Energy Corporation

PNC purchased 1634350 shares of
Wisconsin Energy Corp. last quarter and now holds a total of 3433440 shares. This position is 0.26% of its portfolio. The share price of Wisconsin Energy Corp. has decreased from $58.86 on December 31, 2010 to $30.5 on March 31, 2011.

Wisconsin Energy Corporation is a diversified holding company. The company operates primarily through two segments: A utility energy segment and a non-utility energy segment. Its primary subsidiaries include Wisconsin Electric Power Company, Wisconsin Gas LLC and W.E. Power, LLC. Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas, operating together under the trade name of We Energies. Wisconsin Energy’s EPS forecast for the current year is 2.08 and next year is 2.25. According to the consensus estimates, its top line is expected to grow 9.90% in the current year and 4.50% next year. It is trading at a forward P/E of 13.8. Out of 17 analysts covering the company, eight are positive and have buy recommendations, one has a sell recommendation and eight have hold ratings.

Eaton Corporation

PNC purchased 858771 shares of
Eaton Corporation last quarter and now holds a total of 1568097 shares. This position is 0.21% of its portfolio. The share price of Eaton Corporation has decreased from $101.51 on December 31, 2010 to $55.4 on March 31, 2011.

Eaton Corporation is a diversified power management company. The company is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton’s EPS forecast for the current year is 3.91 and next year is 4.61. According to the consensus estimates, its top line is expected to grow 16.90% in the current year and 8.90% next year. It is trading at a forward P/E of 11.2. Out of 22 analysts covering the company, 11 are positive and have buy recommendations and 11 have hold ratings.

QUALCOMM, Inc.

PNC purchased 725869 shares of
Qualcomm Incorporated last quarter and now holds a total of 3051197 shares. This position is 0.41% of its portfolio. The share price of Qualcomm Incorporated has increased from $49.49 on December 31, 2010 to $54.83 on March 31, 2011.

QUALCOMM Incorporated designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access technology and other technologies. QUALCOMM’s EPS forecast for the current year is 3.13 and next year is 3.40. According to the consensus estimates, its top line is expected to grow 31.00% in the current year and 11.00% next year. It is trading at a forward P/E of 16.6. Out of 43 analysts covering the company, 34 are positive and have buy recommendations, two have sell recommendations and seven have hold ratings.

BorgWarner Inc.

PNC purchased 451185 shares of
BorgWarner Inc. last quarter and now holds a total of 550750 shares. This position is 0.11% of its portfolio. The share price of BorgWarner Inc. has increased from $72.35 on December 31, 2010 to $79.69 on March 31, 2011.

BorgWarner Inc. and Consolidated Subsidiaries is a global supplier of engineered automotive systems and components, primarily for powertrain applications. BongWarner’s EPS forecast for the current year is 4.10 and next year is 5.32. According to the consensus estimates, its top line is expected to grow 23.20% in the current year and 18.30% next year. It is trading at a forward P/E of 14.3. Out of 20 analysts covering the company, eight are positive and have buy recommendations, two have sell recommendations and 10 have hold ratings.

Northeast Utilities System

PNC purchased 925344 shares of Northeast Utilities last quarter and now holds a total of 958582 shares. This position is 0.08% of its portfolio. The share price of Northeast Utilities has increased from $31.87 on December 31, 2010 to $34.59 on March 31, 2011.

Northeast Utilities is a public utility holding company. It is engaged in the energy delivery business through the wholly owned utility subsidiaries. Northeast Utilities’ EPS forecast for the current year is 2.31 and next year is 2.46. According to the consensus estimates, its top line is expected to grow 3.20% in the current year and 9.50% next year. It is trading at a forward P/E of 14.3. Out of 14 analysts covering the company, five are positive and have buy recommendations, one has a sell recommendation and eight have hold ratings.

Hess Corp.

PNC purchased 358904 shares of
Hess Corp. last quarter and now holds a total of 487171 shares. This position is 0.1% of its portfolio. The share price of Hess Corp. has increased from $76.53 on December 31, 2010 to $85.20 on March 31, 2011.

Hess Corporation is a global integrated energy company that operates in two segments: Exploration and Production, and Marketing and Refining. The E&P segment explores for, develops, produces, purchases, transports and sells crude oil and natural gas. The M&R segment manufactures refined petroleum products and purchases, markets and trades refined petroleum products, natural gas and electricity.
Hess’ EPS forecast for the current year is 7.53 and next year is 8.17. According to the consensus estimates, its top line is expected to grow 13.20% in the current year and 2.60% next year. It is trading at a forward P/E of 9.5. Out of 18 analysts covering the company, nine are positive and have buy recommendations, one has a sell recommendation and eight have hold ratings.

Monsanto Company

PNC purchased 388503 shares of
Monsanto Company last quarter and now holds a total of 668401 shares. This position is 0.12% of its portfolio. The share price of Monsanto Company has increased from $69.64 on December 31, 2010 to $72.26 on March 31, 2011.

Monsanto Company, along with its subsidiaries, is a provider of agricultural products for farmers. The company's seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity, reduce the costs of farming, and produce better foods for consumers and better feed for animals.
Monsanto’s EPS forecast for the current year is 2.83 and next year is 3.36. According to the consensus estimates, its top line is expected to grow 8.40% in the current year and 8.30% next year. It is trading at a forward P/E of 19.4. Out of 23 analysts covering the company, 11 are positive and have buy recommendations, one has a sell recommendation and 11 have hold ratings.

Tiffany & Co.

PNC purchased 423869 shares of
Tiffany & Co. last quarter and now holds a total of 750428 shares. This position is 0.11% of its portfolio. The share price of Tiffany & Co. has decreased from $62.27 on December 31, 2010 to $61.43 on March 31, 2011.

Tiffany & Co. conducts all business through its subsidiary companies. The company, through its subsidiaries, including Tiffany and Company, sells fine jewelry and other items that it manufactures or has been made by others.
Tiffany’s EPS forecast for the current year is 3.32 and next year is 3.79. According to the consensus estimates, its top line is expected to grow 11.40% in the current year and 9.90% next year. It is trading at a forward P/E of 17.9. Out of 22 analysts covering the company, 14 are positive and have buy recommendations, two have sell recommendations and six have hold ratings.

Walgreen Company

PNC purchased 646617 shares of
Walgreen Co. last quarter and now holds a total of 1480762 shares. This position is 0.15% of its portfolio. The share price of Walgreen Co. has increased from $38.95 on December 31, 2010 to $40.13 on March 31, 2011.

Walgreen Co. together with its subsidiaries, operates a drugstore chain in the United States. The company provides its customers with multichannel access to consumer goods and services, and pharmacy, health and wellness services in communities across America.
Walgreen’s EPS forecast for the current year is 2.61 and next year is 2.99. According to the consensus estimates, its top line is expected to grow 6.70% in the current year and 5.20% next year. It is trading at a forward P/E of 14.2. Out of 27 analysts covering the company, 17 are positive and have buy recommendations and 10 have hold ratings.

Texas Instruments Incorporated

PNC purchased 630623 shares of
Texas Instruments Inc. last quarter and now holds a total of 1513738 shares. This position is 0.13% of its portfolio. The share price of Texas Instruments Inc. has increased from $32.50 on December 31, 2010 to $34.56 on March 31, 2011.

Texas Instruments Incorporated is engaged in the designing and making of semiconductors that it sells to electronics designers and manufacturers worldwide. In addition, it sells calculators and related products.
Texas Instruments’ EPS forecast for the current year is 2.49 and next year is 2.82. According to the consensus estimates, its top line is expected to grow 3.10% in the current year and 5.30% next year. It is trading at a forward P/E of 12.5. Out of 41 analysts covering the company, 22 are positive and have buy recommendations, five have sell recommendations and 14 have hold ratings.

eBay Inc.

PNC purchased 455174 shares of
ebay Inc. last quarter and now holds a total of 1472303 shares. This position is 0.11% of its portfolio. The share price of ebay Inc. has increased from $ 27.82 on December 31, 2010 to $ 31.04 on March 31, 2011.

eBay Inc. bring together buyers and sellers every day on a local, national and international basis through a range of websites. The company provides online marketplaces for the sale of goods and services, as well as other online commerce, or ecommerce, platforms and online payment solutions to a diverse community of individuals and businesses.
eBay’s EPS forecast for the current year is 1.96 and next year is 2.24. According to the consensus estimates, its top line is expected to grow 17.70% in the current year and 13.80% next year. It is trading at a forward P/E of 14.6. Out of 28 analysts covering the company, 11 are positive and have buy recommendations, one has a sell recommendation and 16 have hold ratings.

Starbucks Corp.

PNC purchased 321734 shares of Starbucks Corp. last quarter and now holds a total of 1794150 shares. This position is 0.16% of its portfolio. The share price of Starbucks Corp. has increased from $32.13 on December 31, 2010 to $36.95 on March 31, 2011.

Starbucks Corporation is the largest roaster and retailer of specialty coffee in the world, operating in more than 50 countries. Starbucks purchases and roasts whole bean coffees and sells them, along with handcrafted coffee and tea beverages and a variety of fresh food items, through company-operated retail stores. Starbucks’ EPS forecast for the current year is 1.49 and next year is 1.79. According to the consensus estimates, its top line is expected to grow 7.20% in the current year and 8.80% next year. It is trading at a forward P/E of 20.4. Out of 24 analysts covering the company, 14 are positive and have buy recommendations, one has a sell recommendation and nine have hold ratings.

Archer Daniels Midland Company

PNC purchased 254517 shares of
Archer Daniels Midland Company last quarter and now holds a total of 413153 shares. This position is 0.04% of its portfolio. The share price of Archer Daniels Midland Company has increased from $30.08 on December 31, 2010 to $36.01 on March 31, 2011.

Archer Daniels Midland Company is principally engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. It is a processor of oilseeds, corn, wheat, cocoa, and other agricultural commodities and is a manufacturer of vegetable oil and protein meal, corn sweeteners, flour, biodiesel, ethanol, and other food and feed ingredients.
Archer Daniels’ EPS forecast for the current year is 3.27 and next year is 3.41. According to the consensus estimates, its top line is expected to grow 23.90% in the current year and 2.00% next year. It is trading at a forward P/E of 9.96. Out of 14 analysts covering the company, 10 are positive and have buy recommendations and four have hold ratings.

Deere & Company

PNC purchased 89773 shares of
Deere & Company last quarter and now holds a total of 926522 shares. This position is 0.22% of its portfolio. The share price of Deere & Company has increased from $83.05 on December 31, 2010 to $96.89 on March 31, 2011.

Deere & Company operates in three business segments: Agriculture and turf, construction and forestry and credit. The agriculture and turf segment manufactures and distributes a line of farm and turf equipment and related service parts including tractors; loaders; combines, cotton and sugarcane harvesters and related front-end equipment and sugarcane loaders; tillage, seeding and application equipment. The construction and forestry segment manufactures, distributes to dealers and sells at retail a range of machines and service parts used in construction, earthmoving, material handling and timber harvesting.
Deere’s EPS forecast for the current year is 6.24 and next year is 7.24. According to the consensus estimates, its top line is expected to grow 20.10% in the current year and 9.30% next year. It is trading at a forward P/E of 12.64. Out of 19 analysts covering the company, 14 are positive and have buy recommendations and five have hold ratings.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: The Top 15 Stocks PNC Financial Services Is Buying