Analysts Set AGCO Co. (NYSE:AGCO) Target Price at $104.10

AGCO Co. (NYSE:AGCO) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $104.10.

Several brokerages recently weighed in on AGCO. Citigroup reaffirmed a “neutral” rating and issued a $110.00 target price on shares of AGCO in a report on Friday, May 30th. Morgan Stanley raised their price target on AGCO from $75.00 to $84.00 and gave the stock an “underweight” rating in a report on Monday, May 12th. UBS Group set a $106.00 price objective on shares of AGCO in a research note on Tuesday, April 22nd. Baird R W cut AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Wall Street Zen raised shares of AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd.

AGCO Trading Up 0.2%

Shares of AGCO stock opened at $100.97 on Wednesday. AGCO has a 1-year low of $73.79 and a 1-year high of $108.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The company has a 50-day moving average of $92.58 and a two-hundred day moving average of $95.68. The firm has a market cap of $7.53 billion, a PE ratio of -17.74, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.38. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm earned $2.32 earnings per share. The business’s revenue for the quarter was down 30.0% compared to the same quarter last year. On average, analysts predict that AGCO will post 4.2 EPS for the current year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, May 15th. AGCO’s payout ratio is -14.87%.

Insider Buying and Selling

In related news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the transaction, the senior vice president now owns 17,380 shares in the company, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AGCO

Hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in shares of AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 110 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of AGCO by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company’s stock valued at $763,000 after acquiring an additional 138 shares during the period. O Shaughnessy Asset Management LLC grew its position in AGCO by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 144 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in AGCO by 2.3% in the 4th quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company’s stock worth $612,000 after buying an additional 145 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of AGCO by 29.7% in the first quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 149 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.