AGCO (NYSE:AGCO) Price Target Raised to $116.00

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

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

AGCO Price Performance

NYSE AGCO opened at $93.50 on Thursday. The stock has a 50-day moving average of $97.24 and a 200 day moving average of $95.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The company 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. AGCO has a one year low of $84.35 and a one year high of $130.26.

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

AGCO Announces Dividend

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

Institutional Trading of AGCO

Institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in AGCO in the 3rd quarter worth $29,000. LRI Investments LLC boosted its stake in AGCO by 94.3% during the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after buying an additional 165 shares during the last quarter. Blue Trust Inc. grew its holdings in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after buying an additional 174 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of 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 in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of AGCO by 69.0% during 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 during the last quarter. 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.