AGCO (NYSE:AGCO) PT Lowered to $145.00

AGCO (NYSE:AGCO) had its price target decreased by Oppenheimer from $154.00 to $145.00 in a research report released on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of AGCO from a buy rating to a hold rating in a report on Friday, February 9th. Truist Financial dropped their price objective on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, April 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO currently has a consensus rating of Moderate Buy and an average target price of $141.83.

AGCO Price Performance

AGCO stock opened at $115.49 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The firm has a market cap of $8.62 billion, a P/E ratio of 7.81, a P/E/G ratio of 0.70 and a beta of 1.32. The business’s fifty day moving average is $116.77 and its two-hundred day moving average is $116.88. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46.

AGCO (NYSE:AGCO) last released its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.51 earnings per share. Equities research analysts forecast that AGCO will post 12 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.00%. AGCO’s payout ratio is 7.85%.

Institutional Investors Weigh In On AGCO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in AGCO by 57.7% in the 1st quarter. Empowered Funds LLC now owns 86,226 shares of the industrial products company’s stock valued at $10,608,000 after buying an additional 31,534 shares during the last quarter. AIA Group Ltd increased its position in AGCO by 40.8% in the 1st quarter. AIA Group Ltd now owns 11,549 shares of the industrial products company’s stock valued at $1,421,000 after acquiring an additional 3,345 shares during the period. Quantbot Technologies LP raised its stake in shares of AGCO by 222.6% during the first quarter. Quantbot Technologies LP now owns 19,983 shares of the industrial products company’s stock valued at $2,458,000 after acquiring an additional 13,789 shares during the last quarter. Duality Advisers LP lifted its holdings in shares of AGCO by 183.7% during the first quarter. Duality Advisers LP now owns 16,259 shares of the industrial products company’s stock worth $2,000,000 after purchasing an additional 10,527 shares during the period. Finally, Manchester Capital Management LLC grew its stake in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Company Profile

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.