AGCO (NYSE:AGCO) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a research note released on Tuesday morning.

Several other research firms also recently commented on AGCO. Citigroup raised their target price on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer reduced their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Barclays reduced their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Truist Financial lifted their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group cut their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.40.

AGCO Trading Up 1.9 %

Shares of NYSE AGCO opened at $93.74 on Tuesday. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 0.51 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $95.94 and a 200-day simple moving average of $98.39.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share 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 during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned $3.97 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Sell-side analysts predict that AGCO will post 7.32 EPS for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio is currently 51.33%.

Institutional Investors Weigh In On AGCO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after acquiring an additional 63,432 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after acquiring an additional 335,092 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after acquiring an additional 538,955 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of AGCO by 4.3% in the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock valued at $193,661,000 after acquiring an additional 80,846 shares during 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.