NEW YORK - Deere (NYSE:DE) & Co. experienced a minor setback today as its shares fell 0.61%, closing at $378.56 and interrupting a two-day streak of gains. The slip occurred in a session where the broader S&P 500 Index edged up by 0.12%, while the Dow Jones Industrial Average saw a slight decline of 0.13%.
The agricultural machinery maker's performance still outshone that of its industry counterparts. Caterpillar Inc (NYSE:CAT)., CNH Industrial (NYSE:CNHI) N.V., and Toro Co. all faced steeper declines, dropping 1.15%, 3.09%, and 1.04% respectively.
Trading activity for Deere & Co. was notably brisk, with the number of shares changing hands surpassing the 50-day average at 1.7 million shares traded. Despite today's dip, the company's stock is trading well above its annual low, though it closed significantly below its 52-week high of $450, reached on July 25th.
Investors are keeping a close eye on these movements as Deere & Co. navigates through the market's ebb and flow, maintaining a position ahead of its competitors even amid broader market fluctuations.
InvestingPro Insights
According to InvestingPro, Deere & Co has shown remarkable resilience, reflected in their aggressive share buybacks and consistently increasing earnings per share. The company's management strategy seems to be paying off, as the company boasts a high return on invested capital. These are just two of the many InvestingPro Tips that can be found on the platform, providing valuable insights for investors.
InvestingPro's real-time data also paints a promising picture. With a market capitalization of 109.01B USD and a low P/E ratio of 11.16, Deere & Co is a strong player in the market. The company's revenue growth over the last twelve months as of Q3 2023 is 26.9%, indicating a robust financial performance. Furthermore, the company's gross profit margin stands at an impressive 30.31% for the same period.
These metrics, along with many more, are part of the comprehensive data provided by InvestingPro, making it a valuable resource for investors seeking to make informed decisions. For those interested, InvestingPro offers additional insights and tips on a range of companies.
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