Deere’s stock performance
As of April 4, 2017, Deere’s (DE) YTD (year-to-date) stock performance has remained positive with a return of 6.3%. Deere outperformed the broad-based SPDR S&P 500 ETF (SPY), which has risen 5.4% in the same period. By comparison, peers Caterpillar (CAT) and AGCO (AGCO) have risen 4.7% and 1.5%, respectively, while CNH Industrials (CNHI) outperformed DE with a return of 9.0%.
The good performance of Deere was primarily driven by the better-than-expected 1Q17 earnings. Further, Deere announced that it expects an increase in sales from its agriculture and turf equipment segment by 3% for fiscal 2017. Also, the introduction of new products has raised the hope of increasing revenue. All these factors had a positive influence on Deere’s stock price.
Moving averages and relative strength index
DE stock has outperformed peers and the market as a whole, which has led to the stock trading 4.2% below its 100-day moving average of $105.10. On April 4, 2017, DE closed 45.3% above its 52-week low of $75.35 and 2.4% below its 52-week high of $112.18.
DE’s 14-day RSI (relative strength index) of 52 indicates that the stock is neither overbought nor oversold. An RSI of 70 means that a stock has moved temporarily into an overbought situation. An RSI below 30 indicates that a stock has moved temporarily into an oversold position.
You can indirectly hold DE by investing in the Natural Resources ETF (HAP), which has 4.2% of its total portfolio in DE as of April 4, 2017.
Continue to the rest of this series to read about Deere’s latest dividend, dividend yields, and latest analyst ratings.