AGCO Co. (NYSE:AGCO) Plans Quarterly Dividend of $0.29

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.29 per share by the industrial products company on Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%.

AGCO has raised its dividend payment by an average of 15.1% annually over the last three years and has increased its dividend every year for the last 12 years. AGCO has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect AGCO to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 27.5%.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $100.00 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. AGCO has a 12-month low of $84.35 and a 12-month high of $130.26. The company’s 50 day moving average price is $95.27 and its two-hundred day moving average price is $94.92. The firm has a market cap of $7.46 billion, a PE ratio of 44.25, a PEG ratio of 0.90 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. AGCO’s revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the business earned $3.97 EPS. Equities research analysts predict that AGCO will post 7.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

AGCO has been the subject of several recent analyst reports. 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. JPMorgan Chase & Co. raised their target price on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer decreased their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup dropped their price objective on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $107.40.

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.