AGCO (NYSE:AGCO) Trading 4.7% Higher – What’s Next?

Shares of AGCO Co. (NYSE:AGCO) traded up 4.7% during mid-day trading on Thursday . The company traded as high as $95.61 and last traded at $95.87. 466,560 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 785,127 shares. The stock had previously closed at $91.58.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley assumed coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Truist Financial increased their price target on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Oppenheimer raised their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.30.

AGCO Trading Up 6.4 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The stock’s fifty day moving average is $98.11 and its 200 day moving average is $96.27. The stock has a market cap of $7.68 billion, a P/E ratio of -18.09, a P/E/G ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, equities research analysts predict that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, February 14th. AGCO’s payout ratio is currently -20.39%.

Institutional Trading of AGCO

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 220 shares during the last quarter. GeoWealth Management LLC bought a new stake in AGCO in the fourth quarter worth about $27,000. Brooklyn Investment Group purchased a new position in shares of AGCO during the third quarter worth approximately $29,000. UMB Bank n.a. increased its position in shares of AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of AGCO during the fourth quarter worth approximately $33,000. Institutional investors own 78.80% of the company’s stock.

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.