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Zacks Industry Outlook Highlights: Deere, Caterpillar, AGCO, Toro and Terex

CHICAGO, Jan. 17, 2014 /PRNewswire/ -- Today, Zacks Equity Research discusses the Machinery, including Deere & Company (NYSE:DE-Free Report), Caterpillar Inc. (NYSE:CAT-Free Report), AGCO Corporation (NYSE:AGCO-Free Report),Toro Co. (NYSE:TTC-Free Report) and Terex Corp. (NYSE:TEX-Free Report).

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Industry: Machinery

Link: http://www.zacks.com/commentary/30912/machinery-industry-stock-outlook---jan-2014

The direct correlation between increasing economic activities and the prospects of the machinery industry evokes in us a confidence in the industry right on the heels of anticipated economic growth worldwide.

Recovery, though gradual, from the 2008 global crisis has raised demand for industrial products and has in turn boosted the need for new/advanced machinery. The major end-markets for the machinery industry include agriculture, construction, mining and energy industries, among others.

The world economy will likely grow by 3.6% in 2014, according to the International Monetary Fund's (IMF) World Economic Outlook, published in Oct 2013. Growth in advanced economies and emerging and developing countries are projected at 2.0% and 5.1% for 2014, respectively.

The world economic growth projection was a slight moderation from what was predicted by the IMF in Jul 2013 due primarily to weak demand and slower-than-anticipated growth in emerging markets. Admittedly obstacles still persist but the overall growth picture may not materially deteriorate or deviate from the IMF's Oct 2013 forecast.

Important Players in the Machinery Industry

Deere & Company's (NYSE:DE-Free Report) fiscal 2013 (ended Oct 31, 2013) results were impressive. For the fiscal year, equipment sales rose roughly 4%, with price realization contributing 3%. This agricultural and forestry equipment provider is expanding globally to leverage benefits from the growing global farm industry.

Management anticipates equipment sales to decrease 3% year over year in fiscal year 2014. Net earnings for the year are projected to be approximately $3.3 billion.

Caterpillar Inc. (NYSE:CAT-Free Report) posted a 19% decline in Machinery and Power Systems sales in the third quarter of 2013. For 2013, the company expects revenue to be approximately $55 billion, down from the $56–$58 billion range expected earlier due primarily to weak demand for mining equipment. The company is slated to report its fourth quarter results on Jan 27, 2014.

Other top players in the agricultural, construction and mining industry include AGCO Corporation (NYSE:AGCO-Free Report),Toro Co. (NYSE:TTC-Free Report) and Terex Corp. (NYSE:TEX-Free Report), among others.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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