AGCO (NYSE:AGCO) Given New $111.00 Price Target at Oppenheimer

AGCO (NYSE:AGCO) had its price target cut by Oppenheimer from $131.00 to $111.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other equities analysts also recently weighed in on the stock. UBS Group lowered their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. BMO Capital Markets initiated coverage on shares of AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price for the company. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group dropped their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.40.

AGCO Price Performance

Shares of AGCO opened at $91.82 on Wednesday. The company has a 50 day moving average of $95.69 and a 200-day moving average of $99.30. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $6.85 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.93 and a beta of 1.25. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.97 EPS. As a group, equities research analysts forecast that AGCO will post 7.87 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. AGCO’s dividend payout ratio (DPR) is currently 20.71%.

Institutional Trading of AGCO

Several institutional investors have recently added to or reduced their stakes in AGCO. Manchester Capital Management LLC boosted its holdings in AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of AGCO in the first quarter valued at approximately $30,000. Blue Trust Inc. grew its position in AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after buying an additional 174 shares in the last quarter. Venturi Wealth Management LLC increased its stake in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 210 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in AGCO by 69.0% in the 2nd 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.

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.