JPMorgan Chase & Co. Lowers AGCO (NYSE:AGCO) Price Target to $135.00

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

Several other analysts have also recently weighed in on the company. Oppenheimer dropped their price target on AGCO from $154.00 to $145.00 and set an outperform rating for the company in a report on Friday. Truist Financial dropped their target price on AGCO from $142.00 to $137.00 and set a buy rating for the company in a report on Friday. Finally, StockNews.com downgraded shares of AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $141.83.

AGCO Trading Up 1.1 %

AGCO stock opened at $111.81 on Friday. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The company has a fifty day moving average price of $116.61 and a two-hundred day moving average price of $116.89. AGCO has a one year low of $105.77 and a one year high of $140.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. AGCO’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.51 EPS. Equities analysts anticipate that AGCO will post 12 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.04%. AGCO’s payout ratio is 7.85%.

Institutional Investors Weigh In On AGCO

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in shares of AGCO by 356.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock worth $3,697,000 after buying an additional 24,408 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 acquiring an additional 19,893 shares during the last quarter. Xponance Inc. boosted its stake in shares of AGCO by 19.1% in the 3rd quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock valued at $1,067,000 after purchasing an additional 1,448 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in AGCO during the 3rd quarter worth approximately $26,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake 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 purchasing an additional 6,467 shares during the last quarter. Institutional investors 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.