AGCO (NYSE:AGCO) Downgraded by Robert W. Baird to Neutral

Robert W. Baird cut shares of AGCO (NYSE:AGCO) from an outperform rating to a neutral rating in a report released on Monday morning, MarketBeat.com reports. They currently have $100.00 price objective on the industrial products company’s stock, down from their prior price objective of $116.00.

Several other equities analysts have also recently issued reports on AGCO. Citigroup decreased their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley initiated coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price for the company. Truist Financial upped their price objective on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Oppenheimer upped their price objective on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $104.30.

AGCO Stock Performance

Shares of NYSE AGCO opened at $91.56 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO has a 12 month low of $84.35 and a 12 month high of $125.76. The company has a 50 day simple moving average of $97.90 and a two-hundred day simple moving average of $96.21. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -16.09, a PEG ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, analysts predict that AGCO will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, February 14th. AGCO’s payout ratio is -20.39%.

Institutional Investors Weigh In On AGCO

Large investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of AGCO during the fourth quarter worth $3,144,000. Gateway Investment Advisers LLC acquired a new position in AGCO in the fourth quarter valued at about $311,000. Olstein Capital Management L.P. lifted its position in AGCO by 20.8% in the fourth quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 2,500 shares during the last quarter. M&T Bank Corp lifted its position in AGCO by 133.0% in the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock valued at $8,263,000 after buying an additional 48,198 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of AGCO by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock worth $61,024,000 after purchasing an additional 12,328 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.