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Deere’s G5 Technology for High-Capacity Nutrient Applicators

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Aug. 27 2018, Published 11:53 a.m. ET

Deere’s product update

On August 22, Deere (DE) introduced the new John Deere DN495 Spinner Spreader for the F4365 high-capacity nutrient applicator. The new product will help large-scale producers and commercial agriculture service providers apply dry fertilizer and other nutrients precisely. It comes with the option of being factory installed for 2019 machines.

Matt Schleicher, marketing manager of Deere’s application equipment division, said, “The DN495 G5 supports the 4R approach to nutrient stewardship: the right source, the right rate, at the right time and in the right place. The New Leader ISOBUS controller and interface, along with the Generation 4 CommandCenter™ Display, makes the DN495 G5 Dry Spinner Spreader one of the most productive and efficient applicators available.”

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Deere stock update

Deere stock remained positive and gained ~3% for the week ended August 24, closing at $144.76. The gain helped the stock bring a trend reversal to its 100-day moving average price, trading marginally above its 100-day moving average of $144.57. In the past three months, Deere’s 100-day moving average has fallen from ~$155.91 to $144.57, which indicates a downward trend in the stock.

Deere stock has fallen 7.5% year-to-date. However, analysts are bullish on the stock. Analysts have recommended a target price of $178.10, which implies an upside of 23% based on its closing price on August 24. Caterpillar (CAT), Agco (AGCO), and CNH Industrial (CNHI) have fallen 12.3%, 14.1%, and 12.2%, respectively. Deere’s 14-day RSI (relative strength index) score of 56 indicates that the stock isn’t overbought or oversold.

Investors can hold Deere indirectly through the iShares MSCI Global Agriculture Producers ETF (VEGI), which had 13.25% of its portfolio invested in Deere as of August 24.

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