Deere Q3: In The Green As Sales Power Higher, Shares Fairly Valued

Deere & Company shares are justified in their current elevated trading multiple of over 30x earnings, as sales continue to power higher. In reporting its Q3, the company reported continuing growth in its Construction Equipment business, and this offset the weakness in its largest business unit, the Production Agriculture segment. Following the release, DE shares continued higher, marching further towards the upper end of its 52-week range. I view DE shares as fairly valued at current pricing.

Shares in Deere & Company (DE) are on a run, and it doesn’t seem like the momentum will stop anytime soon. The company’s stock is up over 30% YTD and about 4.4% over the past month. Shares