AGCO (NYSE:AGCO) Upgraded at Citigroup

Citigroup upgraded shares of AGCO (NYSE:AGCO) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have $90.00 price objective on the industrial products company’s stock, down from their prior price objective of $98.00.

Several other equities research analysts also recently commented on the stock. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Truist Financial boosted their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. increased their price target on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $100.90.

AGCO Stock Down 2.1 %

Shares of NYSE:AGCO opened at $84.04 on Tuesday. The firm has a market cap of $6.27 billion, a P/E ratio of -14.77, a PEG ratio of 1.80 and a beta of 1.16. AGCO has a 52-week low of $73.79 and a 52-week high of $125.76. The business’s 50 day simple moving average is $94.13 and its two-hundred day simple moving average is $96.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, research analysts forecast that AGCO will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, February 14th. AGCO’s dividend payout ratio is presently -20.39%.

Institutional Trading of AGCO

A number of large investors have recently added to or reduced their stakes in AGCO. GeoWealth Management LLC bought a new position in shares of AGCO during the 4th quarter valued at approximately $27,000. Allworth Financial LP lifted its stake in AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 220 shares during the last quarter. UMB Bank n.a. grew its holdings in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Cullen Frost Bankers Inc. bought a new position in AGCO during the fourth quarter valued at $33,000. Finally, LRI Investments LLC increased its position in AGCO by 50.0% in the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.