Today’s Research Reports on Trending Tickers: Caterpillar, Inc. and Deere & Company
Heading into Thanksgiving weekend the Dow Jones and S&P 500 pulled back from record highs after minutes from the Federal Reserve meeting were released, while the Nasdaq closed at another record high as tech giant Amazon Inc. surged 1.46 percent. The Dow Jones Industrial Average declined 0.27 percent to close at 23,526.18, while the S&P 500 Index decreased 0.08 percent to close at 2,597.08. The Nasdaq Composite Index eked out a 0.07 percent gain to close at 6,867.36.
“The November FOMC Minutes showed a committee that sees economic momentum building in the near term but remains uncertain about the inflation outlook. Overall, we read the November minutes as dovish. The upgrade to the economic assessment notwithstanding, the minutes show there is still considerable unease about hiking when inflation keeps surprising to the downside. We continue to expect that a December hike is baked in,” said a team of BNP Paribas economists led by Paul Mortimer-Lee, according to MarketWatch.
RDI Initiates Coverage on:
Deere & Company
Caterpillar, Inc.’s stock edged 0.30% higher Wednesday, to close the day at $138.01. The stock recorded a trading volume of 4,887,659 shares, which was above its three months average volume of 3,411,755 shares. In the last year, Caterpillar, Inc.’s shares have traded in a range of 90.34 – 140.44. The share price has gained 52.77% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $133.96 is greater than its 200-day moving average of $117.06. Shares of the company are trading at a Price to Earnings ratio of 771.01. Shares of Caterpillar, Inc. have gained roughly 4.81 percent in the past month and are up 48.81 percent year-to-date.
Access RDI’s Caterpillar, Inc. Research Report at:
On Wednesday, shares in Deere & Company recorded a trading volume of 8,094,239 shares, which was above the three months average volume of 2,288,521 shares. The stock ended the day 4.32% higher at 145.25. The share price has gained 45.48% from its 52 week low with a 52 week trading range of 99.84 – 146.00.The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $132.00 is greater than its 200-day moving average of $125.19. Shares of the company are trading at a Price to Earnings ratio of 24.12. Shares of Deere & Company have gained roughly 12.08 percent in the past month and are up 40.96 percent year-to-date.
Access RDI’s Deere & Company Research Report at:
Our Actionable Research on Caterpillar, Inc. (NYSE:CAT) and Deere & Company (NYSE:DE) can be downloaded free of charge at Research Driven Investing.
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