AGCO (NYSE:AGCO) Upgraded at StockNews.com

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a report published on Thursday morning.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley began coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Citigroup boosted their target price on AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. The Goldman Sachs Group lowered their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Truist Financial boosted their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Oppenheimer lowered their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.10.

AGCO Stock Up 3.3 %

NYSE AGCO opened at $93.50 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The business has a fifty day moving average price of $97.24 and a 200 day moving average price of $95.97. AGCO has a one year low of $84.35 and a one year high of $130.26. The company has a market cap of $6.98 billion, a P/E ratio of 41.37, a P/E/G ratio of 0.56 and a beta of 1.24.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.97 EPS. Research analysts anticipate that AGCO will post 7.36 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s dividend payout ratio is currently 51.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AGCO. Pacer Advisors Inc. increased its holdings in shares of AGCO by 103.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock valued at $153,814,000 after acquiring an additional 799,429 shares during the last quarter. AQR Capital Management LLC boosted its holdings in AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after purchasing an additional 605,509 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in AGCO by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after purchasing an additional 391,591 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after purchasing an additional 335,092 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of AGCO by 386.8% during the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock worth $24,389,000 after buying an additional 198,014 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.