AGCO (NYSE:AGCO) Upgraded at StockNews.com

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a research report released on Tuesday morning.

A number of other research analysts have also commented on the company. Robert W. Baird lowered their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Barclays lowered their price objective on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Citigroup raised their target price on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AGCO currently has an average rating of “Hold” and an average price target of $114.40.

AGCO Stock Up 3.3 %

AGCO opened at $92.37 on Tuesday. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The business has a 50-day moving average of $95.75 and a 200-day moving average of $98.61. 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 company has a market capitalization of $6.89 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the business earned $3.97 earnings per share. Equities research analysts forecast that AGCO will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.26%. AGCO’s payout ratio is 51.33%.

Hedge Funds Weigh In On AGCO

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. raised its position in AGCO by 28.6% in the 1st quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock valued at $7,853,000 after purchasing an additional 14,201 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of AGCO by 30.0% during the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after purchasing an additional 7,171 shares during the period. Acadian Asset Management LLC grew its stake in shares of AGCO by 575.9% during the first quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock worth $5,125,000 after purchasing an additional 35,500 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of AGCO by 146.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock worth $10,538,000 after purchasing an additional 50,892 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of AGCO by 377.0% during the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock worth $2,177,000 after purchasing an additional 13,985 shares during the period. 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.