AGCO (NYSE:AGCO) Given New $123.00 Price Target at Oppenheimer

AGCO (NYSE:AGCO) had its price target trimmed by Oppenheimer from $124.00 to $123.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also recently weighed in on AGCO. Zacks Research upgraded AGCO from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 18th. Citigroup restated a “neutral” rating and issued a $110.00 price target on shares of AGCO in a research note on Friday, May 30th. UBS Group restated a “neutral” rating and issued a $119.00 price target (up previously from $100.00) on shares of AGCO in a research note on Friday, August 8th. Wall Street Zen upgraded AGCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price target on AGCO from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AGCO currently has a consensus rating of “Hold” and an average price target of $110.38.

AGCO Trading Down 0.6%

Shares of AGCO stock opened at $109.63 on Thursday. AGCO has a 12-month low of $73.79 and a 12-month high of $121.16. The stock has a market cap of $8.18 billion, a P/E ratio of 81.81, a P/E/G ratio of 1.73 and a beta of 1.20. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $110.69 and its 200-day moving average is $101.43.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business earned $2.53 EPS. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Equities research analysts predict that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.1%. AGCO’s dividend payout ratio (DPR) is 86.57%.

AGCO announced that its board has authorized a stock repurchase plan on Wednesday, July 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the sale, the senior vice president directly owned 16,189 shares of the company’s stock, valued at $1,771,076.60. This trade represents a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.60% of the stock is owned by company insiders.

Institutional Trading of AGCO

A number of hedge funds have recently made changes to their positions in AGCO. Citizens National Bank Trust Department boosted its stake in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of AGCO by 951.9% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 257 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AGCO during the first quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its stake in shares of AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 190 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of AGCO during the first quarter valued at about $37,000. 78.80% of the stock is owned by institutional investors and hedge funds.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.