AGCO (NYSE:AGCO) Price Target Cut to $129.00 by Analysts at Robert W. Baird

AGCO (NYSE:AGCO) had its price objective reduced by Robert W. Baird from $139.00 to $129.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

AGCO has been the subject of several other reports. Citigroup began coverage on shares of AGCO in a research note on Wednesday, June 26th. They issued a neutral rating and a $108.00 target price for the company. JPMorgan Chase & Co. lowered their target price on AGCO from $135.00 to $130.00 and set an overweight rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group reduced their price target on AGCO from $127.00 to $112.00 and set a neutral rating for the company in a report on Thursday, July 11th. Oppenheimer reduced their target price on AGCO from $133.00 to $132.00 and set an outperform rating for the company in a research note on Monday, July 22nd. Finally, Truist Financial dropped their price target on shares of AGCO from $142.00 to $137.00 and set a buy rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $121.20.

AGCO Stock Down 1.9 %

Shares of NYSE AGCO opened at $89.57 on Wednesday. The stock has a fifty day moving average price of $100.24 and a 200 day moving average price of $110.55. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89. AGCO has a 12-month low of $88.12 and a 12-month high of $132.94. The company has a market cap of $6.68 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.86 and a beta of 1.27.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.90 by ($0.37). The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.29 earnings per share. Research analysts anticipate that AGCO will post 7.89 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Institutional Trading of AGCO

Large investors have recently modified their holdings of the company. Raymond James & Associates raised its holdings in shares of AGCO by 136.5% during the fourth quarter. Raymond James & Associates now owns 83,208 shares of the industrial products company’s stock valued at $10,102,000 after buying an additional 48,025 shares during the last quarter. State of Michigan Retirement System boosted its position in AGCO by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after acquiring an additional 100 shares during the period. Venturi Wealth Management LLC grew its stake in shares of AGCO by 30.1% in the fourth quarter. Venturi Wealth Management LLC now owns 445 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 103 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of AGCO in the fourth quarter worth $208,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of AGCO during the fourth quarter valued at $355,000. Institutional investors and hedge funds 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.