AGCO (NYSE:AGCO) Price Target Raised to $109.00

AGCO (NYSE:AGCO) had its target price boosted by Oppenheimer from $108.00 to $109.00 in a research report released on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on AGCO. Citigroup lowered their price target on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group lowered their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Truist Financial boosted their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley started coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective on the stock. Finally, StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AGCO has a consensus rating of “Hold” and an average target price of $107.20.

AGCO Price Performance

Shares of NYSE:AGCO opened at $106.39 on Tuesday. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The business has a 50-day moving average of $97.62 and a two-hundred day moving average of $95.52. The stock has a market capitalization of $7.94 billion, a P/E ratio of 47.08, a P/E/G ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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 business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm posted $3.97 EPS. AGCO’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities research analysts predict that AGCO will post 7.33 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.09%. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Institutional Investors Weigh In On AGCO

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in AGCO by 34.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after buying an additional 538,955 shares in the last quarter. 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 purchasing an additional 80,846 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after purchasing an additional 66,303 shares during the period. Geode Capital Management LLC lifted its stake in shares of AGCO by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock valued at $121,121,000 after purchasing an additional 80,516 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of AGCO by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock valued at $66,959,000 after purchasing an additional 150,656 shares during the period. 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.