Oppenheimer Cuts AGCO (NYSE:AGCO) Price Target to $133.00

AGCO (NYSE:AGCO) had its price target reduced by Oppenheimer from $145.00 to $133.00 in a report issued on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

Several other research analysts have also issued reports on the company. Truist Financial dropped their target price on AGCO from $142.00 to $137.00 and set a buy rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their target price on AGCO from $150.00 to $135.00 and set an overweight rating for the company in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, AGCO presently has an average rating of Moderate Buy and a consensus price target of $139.83.

AGCO Trading Down 1.7 %

AGCO opened at $103.68 on Wednesday. The firm has a market cap of $7.74 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.65 and a beta of 1.31. AGCO has a 12 month low of $100.24 and a 12 month high of $140.46. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average of $112.31 and a 200 day moving average of $115.53.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the business posted $3.51 earnings per share. As a group, research analysts forecast that AGCO will post 12.18 EPS for the current year.

AGCO Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.29 per share. This represents a dividend yield of 1%. The ex-dividend date was Tuesday, May 14th. AGCO’s dividend payout ratio is presently 7.85%.

Institutional Trading of AGCO

Several institutional investors and hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. raised its stake in shares of AGCO by 18.3% during the first quarter. Westwood Holdings Group Inc. now owns 180,463 shares of the industrial products company’s stock valued at $22,201,000 after acquiring an additional 27,958 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of AGCO by 1.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,012,681 shares of the industrial products company’s stock valued at $122,517,000 after acquiring an additional 17,690 shares in the last quarter. Aurora Investment Counsel raised its stake in AGCO by 5.8% in the first quarter. Aurora Investment Counsel now owns 11,225 shares of the industrial products company’s stock worth $1,381,000 after buying an additional 617 shares in the last quarter. Clean Yield Group bought a new position in AGCO in the first quarter worth approximately $1,849,000. Finally, Cetera Advisors LLC bought a new position in AGCO in the first quarter worth approximately $247,000. 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.