AGCO (NYSE:AGCO) Reaches New 1-Year Low at $99.88

AGCO Co. (NYSE:AGCO)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $99.88 and last traded at $100.06, with a volume of 47442 shares changing hands. The stock had previously closed at $100.94.

Analysts Set New Price Targets

Several brokerages have commented on AGCO. Oppenheimer cut their price target on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. cut their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, Truist Financial cut their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.83.

AGCO Stock Performance

The company’s 50-day moving average price is $110.24 and its two-hundred day moving average price is $115.06. 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 stock has a market cap of $7.54 billion, a PE ratio of 6.83, a PEG ratio of 0.62 and a beta of 1.31.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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 analysts’ expectations 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 quarter last year, the company posted $3.51 EPS. On average, equities research analysts forecast that AGCO Co. will post 12.18 EPS for the current year.

AGCO Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a $0.29 dividend. This represents a yield of 1%. The ex-dividend date of this dividend was Tuesday, May 14th. AGCO’s payout ratio is presently 7.85%.

Hedge Funds Weigh In On AGCO

A number of large investors have recently added to or reduced their stakes in AGCO. Strs Ohio increased its position in shares of AGCO by 0.7% in the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock valued at $1,467,000 after acquiring an additional 87 shares during the period. SummerHaven Investment Management LLC increased its position in shares of AGCO by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock valued at $654,000 after acquiring an additional 91 shares during the period. State of Michigan Retirement System increased its position in shares of AGCO by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock valued at $1,816,000 after acquiring an additional 100 shares during the period. Denali Advisors LLC increased its position in shares of AGCO by 50.0% in the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 103 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of AGCO by 30.1% in the fourth quarter. Venturi Wealth Management LLC now owns 445 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 103 shares during the period. 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.