JPMorgan Chase & Co. Boosts AGCO (NYSE:AGCO) Price Target to $150.00

AGCO (NYSE:AGCO) had its target price increased by JPMorgan Chase & Co. from $145.00 to $150.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on the company. Truist Financial assumed coverage on AGCO in a research report on Thursday, March 14th. They set a buy rating and a $142.00 price objective for the company. StockNews.com cut AGCO from a buy rating to a hold rating in a report on Friday, February 9th. Finally, Stifel Nicolaus lowered their price objective on AGCO from $160.00 to $153.00 and set a buy rating on the stock in a research note on Tuesday, December 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $150.38.

AGCO Stock Performance

Shares of NYSE AGCO opened at $120.01 on Friday. AGCO has a one year low of $105.77 and a one year high of $140.46. The business’s 50-day moving average price is $115.63 and its two-hundred day moving average price is $117.15. The company has a market capitalization of $8.96 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 0.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm earned $4.47 EPS. AGCO’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts anticipate that AGCO will post 13.03 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 14th. AGCO’s dividend payout ratio (DPR) is presently 7.42%.

Institutional Investors Weigh In On AGCO

Several institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of AGCO by 1.7% during the 4th quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after purchasing an additional 1,036 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AGCO by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after purchasing an additional 32,583 shares during the last quarter. Invesco Ltd. increased its position in shares of AGCO by 53.1% during the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after purchasing an additional 130,051 shares during the last quarter. Schroder Investment Management Group increased its position in shares of AGCO by 45.7% during the 3rd quarter. Schroder Investment Management Group now owns 147,467 shares of the industrial products company’s stock worth $17,442,000 after purchasing an additional 46,239 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of AGCO during the 3rd quarter worth approximately $1,151,000. 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.