JPMorgan Chase & Co. Trims AGCO (NYSE:AGCO) Target Price to $135.00

AGCO (NYSE:AGCO) had its target price reduced by JPMorgan Chase & Co. from $150.00 to $135.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

AGCO has been the subject of a number of other research reports. Truist Financial decreased their price target on AGCO from $142.00 to $137.00 and set a buy rating for the company in a research report on Friday. StockNews.com lowered shares of AGCO from a buy rating to a hold rating in a report on Friday, February 9th. Finally, Oppenheimer decreased their price objective on shares of AGCO from $154.00 to $145.00 and set an outperform rating for the company in a research note on Friday. One research 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, AGCO currently has an average rating of Moderate Buy and an average price target of $141.83.

AGCO Price Performance

Shares of NYSE AGCO opened at $111.81 on Friday. The firm has a 50-day moving average of $116.61 and a two-hundred day moving average of $116.89. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 0.70 and a beta of 1.32. The company has a current ratio of 1.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.51 earnings per share. As a group, analysts expect that AGCO will post 12 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio is currently 7.85%.

Hedge Funds Weigh In On AGCO

A number of hedge funds have recently modified their holdings of the stock. Buck Wealth Strategies LLC acquired a new stake in AGCO during the first quarter valued at $1,991,000. Pegasus Asset Management Inc. lifted its holdings in shares of AGCO by 0.9% during the 1st quarter. Pegasus Asset Management Inc. now owns 29,052 shares of the industrial products company’s stock valued at $3,574,000 after buying an additional 249 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares during the last quarter. Nordea Investment Management AB increased its holdings in AGCO by 11.4% in the first quarter. Nordea Investment Management AB now owns 68,850 shares of the industrial products company’s stock worth $8,426,000 after buying an additional 7,022 shares during the last quarter. Finally, Access Investment Management LLC acquired a new position in AGCO in the first quarter worth approximately $916,000. 78.80% of the stock is owned by institutional investors and hedge funds.

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.