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Highlights
- Deere & Company (DE) has revealed its fully-autonomous tractor at the CES on January 04.
- The autonomous tractor will be available for the farmers before the end of this year.
- The company stock grew 8.15% in the last five days.
Deere & Company (NYSE:DE) stock was up 2.29% to US$380 at 1:56 pm ET on Friday. Its stock has been gaining traction since it unveiled a fully autonomous tractor on January 4, 2022.
The company introduced its fully autonomous tractor at the CES Tech Summit 2022.
The Moline, Illinois-based company said it is ready for large-scale production. The tractor is expected to hit the market this year. The new tractor is fitted with a TruSet-enabled chisel plow and GPS, and other features like a 360-degree obstacle detection stereo camera.
The farmers can monitor the work progress from their mobile devices after the configured machine is set on motion in a selected area.
The company said its customer support would be ready to help farmers wth any problem.
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Deere is one of the leading agricultural equipment manufacturers. Its four reportable segments are production & precision agriculture, construction & forestry, small agriculture & turf, and John Deere Capital.
The company has around 1,900 dealer locations in North America and 3,700 dealer locations worldwide. Its Capital division provides financing to customers.
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Financials
For the fiscal year ended Oct 31, 2021, the company reported net sales and revenue of US$44.02 billion. The net income attributable to the company came in at US$5.96 billion or US$18.99 per share diluted. In FY2020, the net sales and net income were US$35.5 billion and US$2.75 billion, respectively. The earnings per share diluted for fiscal 2020 was US$8.69.
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Deere’s current market capitalization is US$116.4 billion. It has a P/E ratio of 19.94 and a forward P/E one year of 16.97. The dividend yield is 1.13%, with an annualized dividend of US$4.20.
The stock traded in the price range of US$400.34 to US$278.95 in the last 52 weeks and closed at US$378.65, up 1.77%, on January 7, 2022.
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Bottomline
The S&P 500 Capital Goods Industry Group Index gave a 17.46% return in one year. By contrast, Deere & Company’s stock rose 26.80% in the same period. It has been around in the market for a long time. However, investors should apply due diligence before investing in stocks.
