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Farm and Construction Machinery

AGCO Corporation (NYSE: AGCO) – FYE 12/2016


Caterpillar, Inc. (NYSE: CAT) – FYE 12/2016


Deere and Company
Investors have thanked the company for managing the business with an entrepreneurial spirit, the purchase of Blue River Technology this FY is an example, by biding up the stock price to current levels. Year over year earnings growth of 23%, and y-o-y free cash flow growth of 22% will certainly help maintaining current pricing levels. I would have preferred to see a net reduction in debt instead of the y-o-y increase of 12%, but investors seemed to shrug that increase off as just the cost of doing business, pointing to the increase in y-o-y revenues of 12% as well as the y-o-y price increase of 34%. As long as investors remember that perfection, which is where this stock is priced, increases risk, things should be good, because by the time you see them running like a Deere, it really is to late to join the herd.

Deere and Company (NYSE: DE) – FYE 10/2017 – FAIRLY VALUED – The stock is trading at levels in line with my current $173 fair value estimate – Please See Linked Worksheet


The Manitowoc Company, Inc. (NYSE: MTW) – FYE 12/2017 OVER VALUED The stock is currently trading at levels above my most recent $12 close target. Please See Linked PDF Worksheet
Posted on 04/25/18

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.