Deere & Co Stock Price, News & Analysis

Deere & Company has introduced seven new startups to its 2022 Startup Collaborator program, enhancing its engagement with innovative technologies. The program allows selected startups, including Burro, Crop.Zone, and Four Growers, to test their solutions with John Deere's customers and dealers over a year. This initiative aims to create value in agricultural technology, facilitating collaboration between Deere and these startups without formal commitments. The program was initiated in 2019 and continues to focus on integrating external innovations into Deere's offerings.

John Deere (NYSE: DE) unveiled a fully autonomous tractor at CES 2022, designed for large-scale production. This innovative machine combines the 8R tractor with advanced features such as TruSet-enabled chisel plow and GPS guidance. The autonomous tractor addresses the challenge of feeding a projected global population increase of 50% by 2050, despite diminishing agricultural land and labor resources. Equipped with stereo cameras for obstacle detection and precision positioning, the tractor enables farmers to monitor operations through a mobile app. Availability is expected later this year.

John Deere (NYSE: DE) has agreed to acquire a majority stake in Kreisel Electric, a company specializing in advanced battery technology for e-mobility and stationary systems. This acquisition enhances Deere's capacity to integrate high-density battery solutions into its product lines and improve its sustainability goals. Kreisel's technology supports off-highway vehicles and aims to boost demand for electric propulsion systems. The deal is pending regulatory approval in Austria and is expected to close in approximately 60 days.

Deere & Company (NYSE: DE) announced the opening of a new office in Chicago, aiming to create 150 IT jobs within two years, ultimately reaching 300 positions. The facility will focus on eCommerce, cloud, and data analytics, integral to Deere's smart industrial strategy. Governor JB Pritzker highlighted the city's role in technology and agriculture. This investment, supported by an EDGE agreement from the Illinois Department of Commerce, solidifies Illinois' status as a leader in agricultural technology.

Deere & Company (NYSE: DE) has announced a regular quarterly dividend of $1.05 per share on its common stock. This dividend will be payable on February 8, 2022, to stockholders of record as of December 31, 2021. This declaration reflects the company's commitment to returning value to shareholders while maintaining financial stability.

Deere reported a strong fourth quarter with net income rising 69% to $1.283 billion, or $4.12 per share, driven by a 16% increase in net sales to $11.327 billion. Fiscal 2021 showed a net income of $5.963 billion, a 117% increase year-over-year. The company forecasts fiscal 2022 earnings between $6.5 and $7.0 billion amid robust demand for farm and construction equipment, despite anticipated supply chain challenges. With a new UAW contract in place, Deere reaffirms its commitment to workforce welfare and product quality.

On November 10, 2021, John Deere (NYSE: DE) was recognized as a CES® 2022 Innovation Awards Best of Innovation honoree in both the Robotics and Vehicle Intelligence & Transportation categories. This marks the third consecutive year the company has received this accolade. The award highlights John Deere's See & Spray technology, which utilizes computer vision and machine learning to optimize herbicide application in agriculture. The CES 2022 event will take place from January 5-8, 2022, in Las Vegas, NV.

On November 1, 2021, Deere & Company (NYSE: DE) announced the election of Leanne G. Caret to its board of directors. Caret, a seasoned manufacturing executive from The Boeing Company, brings over two decades of experience in aerospace and defense, making her a valuable addition. In 2020, Boeing generated approximately $35 billion in revenue from defense and space operations. Caret's diverse expertise is expected to enhance Deere's innovative strategies in smart industrial operations, further solidifying its leadership position. The board now consists of 12 members, with 11 being independent.

On October 14, 2021, the UAW initiated a strike against Deere & Company (NYSE: DE), impacting over 10,000 workers at 14 facilities in the United States. Deere's vice president of labor relations, Brad Morris, expressed the company's commitment to achieving a favorable outcome for employees and maintaining operations during the negotiations. However, the company currently lacks a timeline for resuming activities and concluding negotiations. The strike could have significant implications for the company’s operations and stock performance.