AGCO (NYSE:AGCO) PT Lowered to $135.00

AGCO (NYSE:AGCO) had its price objective lowered by JPMorgan Chase & Co. from $150.00 to $135.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on AGCO. StockNews.com cut shares of AGCO from a buy rating to a hold rating in a research report on Friday, February 9th. Oppenheimer cut their target price on shares of AGCO from $154.00 to $145.00 and set an outperform rating on the stock in a research note on Friday. Finally, Truist Financial decreased their price target on shares of AGCO from $142.00 to $137.00 and set a buy rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $141.83.

AGCO Price Performance

Shares of AGCO opened at $115.49 on Friday. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The firm has a 50-day simple moving average of $116.77 and a 200-day simple moving average of $116.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. AGCO has a fifty-two week low of $105.77 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business posted $3.51 earnings per share. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities research analysts anticipate that AGCO will post 12 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.00%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Institutional Trading of AGCO

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position in shares of AGCO by 356.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock worth $3,697,000 after acquiring an additional 24,408 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in AGCO by 23.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 104,597 shares of the industrial products company’s stock worth $12,372,000 after purchasing an additional 19,893 shares during the period. Xponance Inc. lifted its position in AGCO by 19.1% in the third quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock worth $1,067,000 after purchasing an additional 1,448 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in AGCO during the third quarter worth $26,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in AGCO by 161.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,461 shares of the industrial products company’s stock valued at $1,237,000 after buying an additional 6,467 shares during the period. 78.80% of the stock is 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.