2023: Eighth Circuit Upholds John Deere’s Dismissal of Disability Bias Suit.
March 26, 2023
Trending News 🌧️
On Thursday, the Eighth Circuit Court of Appeals backed John Deere ($NYSE:DE)’s decision to dismiss a worker on the grounds of mental health issues. The former employee had filed a lawsuit against the company, alleging disability bias.
However, the court ultimately found that John Deere’s dismissal of the employee was valid and dismissed the lawsuit. This decision comes as a victory for the company, which has been actively defending itself against such claims. John Deere has long been an advocate for workplace diversity and equity, and it has made tremendous effort to create a safe and inclusive environment for its employees. The company has been vocal about its commitment to providing equal opportunities for disabled people and its commitment to upholding the rights of workers with disabilities. The Eighth Circuit’s decision demonstrates the company’s dedication to ensuring that all of its employees are treated with respect and dignity, regardless of their mental health. This ruling reinforces John Deere’s commitment to providing a safe and equitable working environment for all of its employees. The company will continue to strive to ensure that any allegations of disability bias are taken seriously and dealt with swiftly and correctly. With this ruling, it is clear that John Deere is in full compliance with the law when it comes to protecting its disabled workers.
Stock Price
At the time of writing, news coverage of DEERE was mostly positive after the Eighth Circuit upheld the dismissal of a disability bias suit against the company. On Friday, DEERE experienced a slight decline in its stock price, opening at $387.4 and closing at $386.5, a decrease of 1.4% from the previous closing price of $391.8. This decline in share price implies that investors were not impressed with the news of the Eighth Circuit’s ruling. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Deere. More…
| Total Revenues | Net Income | Net Margin |
| 54.94k | 8.19k | 14.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Deere. More…
| Operations | Investing | Financing |
| 6.01k | -8.37k | 2.06k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Deere. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 91.62k | 70.18k | 71.99 |
Key Ratios Snapshot
Some of the financial key ratios for Deere are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.5% | 28.6% | 21.4% |
| FCF Margin | ROE | ROA |
| 3.6% | 35.4% | 8.0% |
Analysis
At GoodWhale, we conduct a thorough examination of DEERE’s fundamentals. Our Risk Rating gives DEERE a medium risk investment in terms of financial and business aspects. We’ve detected two risk warnings in DEERE’s income sheet and balance sheet. If you’re interested in learning more, register with us to check it out. We’d be happy to help you make an informed decision about investing in DEERE. More…
Peers
Deere & Co. is an American corporation that manufactures agricultural, construction, and forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, and lawn care equipment. In 2018, it was listed as 87th in the Fortune 500 America’s ranking and was ranked 329th in the global ranking. The company also provides financial services and other related activities. Deere & Co.’s main competitors are CNH Industrial NV, Caterpillar Inc, Hitachi Construction Machinery Co Ltd.
– CNH Industrial NV ($NYSE:CNHI)
CNHI is a world leader in the design and manufacture of agricultural and construction equipment. The company has a market cap of 17.03B as of 2022 and a ROE of 29.84%. CNHI produces some of the world’s most recognizable brands, including Case IH, New Holland, and Steyr. The company’s products are used in a variety of applications, including farming, construction, and landscaping.
– Caterpillar Inc ($NYSE:CAT)
Caterpillar Inc. is a publicly traded company with a market capitalization of 96.9 billion as of 2022. The company designs, manufactures, markets and sells machinery and engines used in construction, mining, and forestry applications worldwide. Caterpillar’s return on equity was 33.83% as of 2022.
Caterpillar is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. The company also serves the defense, rail, and power generation industries. Caterpillar employs more than 130,000 people worldwide and operates in more than 200 countries.
– Hitachi Construction Machinery Co Ltd ($TSE:6305)
Hitachi Construction Machinery Co Ltd has a market cap of 574.79B as of 2022, a Return on Equity of 13.19%. The company is engaged in the manufacturing and selling of construction and mining equipment, as well as other related products and services. The company has a strong presence in Japan and Asia, and is expanding its operations globally.
Summary
Analysts expect the ruling to benefit Deere going forward, as it removes a potential legal uncertainty. The company’s financials remain generally strong, with cash flows continuing to support its share repurchase program and dividend payments. Investors should consider DE stock for long-term growth as the company continues to invest in research and development to develop new products and technology.
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