AGCO (NYSE:AGCO) Price Target Raised to $116.00 at Truist Financial

AGCO (NYSE:AGCO) had its price target boosted by Truist Financial from $110.00 to $116.00 in a report issued on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also weighed in on AGCO. Citigroup increased their price objective on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Morgan Stanley began coverage on AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Oppenheimer cut their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, AGCO currently has an average rating of “Hold” and a consensus target price of $108.10.

AGCO Price Performance

NYSE:AGCO opened at $93.50 on Thursday. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 0.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The business has a 50 day simple moving average of $97.24 and a 200-day simple moving average of $95.97. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26.

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

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, November 15th. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Hedge Funds Weigh In On AGCO

A number of hedge funds and other institutional investors have recently modified their holdings of AGCO. Brooklyn Investment Group bought a new position in AGCO in the third quarter worth about $29,000. LRI Investments LLC grew its position in shares of AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after buying an additional 165 shares during the last quarter. Blue Trust Inc. raised its stake in shares of AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 174 shares in the last quarter. Venturi Wealth Management LLC lifted its position in AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

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.