DE
Deere & Company
Industrial/Transportation
01/27/2014
Presented
| Date | 01/23/2014 |
| Price | $87.88 |
| Market Cap | $32.60B |
| Ent Value | $63.02B |
| P/E Ratio | 11.47x |
| Book Value | $24.29 |
| Div Yield | 2.7% |
| Shares O/S | 371.37M |
| Ave Daily Vol | 3,190,000 |
| Short Int | 4.51% |
Current
| Price | $401.99 |
| Market Cap | $109.98B |
| Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company’s Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters, and related front-end equipment and sugarcane loaders; and tillage, seeding, and application equipment, such as sprayers, nutrient management, and soil preparation machinery. It also provides hay and forage equipment comprising self-propelled forage harvesters and attachments, balers, and mowers; and riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment. In addition, this segment offers integrated agricultural management systems technology and solutions; precision agricultural irrigation equipment and supplies; landscape and nursery products; and other outdoor power products. Its Construction and Forestry segment provides backhoe loaders that are used in construction, earthmoving, material handling, and timber harvesting applications; crawler dozers and loaders; four-wheel-drive loaders; excavators; motor graders; articulated dump trucks; landscape loaders; skid-steer loaders; and log skidders, feller bunchers, log loaders, log forwarders, log harvesters, and related attachments. The company’s Financial Services segment finances sales and leases new and used agriculture and turf equipment, and construction and forestry equipment. It also provides wholesale financing to dealers of the foregoing equipment; finances retail revolving charge accounts and operating loans; and crop risk-mitigation products and extended equipment warranties. The company markets its products primarily through independent retail dealer networks and retail outlets. Deere & Company was founded in 1837 and is headquartered in Moline, Illinois. |
Highlights
Although he describes it as a solid, well-run company, the presenter is short shares of Deere on the premise that the machinery maker is coming off a massive cyclical peak. A high proportion of farmers in recent years have been buying farm equipment strictly for tax reasons, but with farm incomes in decline and a massive cut to the tax benefit effectuated at the start of the year, shares could be vulnerable over the next couple of years.
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