AGCO (NYSE:AGCO) Stock Price Up 5.9% – Time to Buy?

AGCO Co. (NYSE:AGCO) shares rose 5.9% during trading on Monday . The stock traded as high as $96.45 and last traded at $96.22. Approximately 446,090 shares traded hands during trading, a decline of 35% from the average daily volume of 688,753 shares. The stock had previously closed at $90.85.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AGCO. Truist Financial raised their price objective on AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Citigroup cut their price objective on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group dropped their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.20.

AGCO Stock Down 0.1 %

The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 0.56 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. The business has a fifty day moving average of $95.09 and a 200 day moving average of $94.87.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the company earned $3.97 EPS. As a group, equities analysts predict that AGCO Co. will post 7.36 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s dividend payout ratio (DPR) is 51.33%.

Hedge Funds Weigh In On AGCO

Several large investors have recently made changes to their positions in AGCO. Brooklyn Investment Group purchased a new stake in AGCO in the third quarter valued at approximately $29,000. Venturi Wealth Management LLC boosted its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after buying an additional 210 shares during the period. Farther Finance Advisors LLC grew its stake in shares of AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after buying an additional 139 shares in the last quarter. LRI Investments LLC raised its holdings in shares of AGCO by 50.0% in the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after buying an additional 170 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 117 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.