AGCO (NYSE:AGCO) Stock Keeps Buy Rating at Truist Financial

AGCO (NYSE:AGCO)‘s stock had its “buy” rating reiterated by analysts at Truist Financial in a note issued to investors on Monday, Benzinga reports. They presently have a $136.00 price target on the industrial products company’s stock, down from their previous price target of $146.00. Truist Financial‘s target price points to a potential upside of 19.69% from the company’s current price.

AGCO has been the topic of several other research reports. Weiss Ratings downgraded AGCO from a “hold (c+)” rating to a “hold (c-)” rating in a report on Friday. DA Davidson reiterated a “buy” rating and issued a $151.00 price objective on shares of AGCO in a research report on Thursday, October 8th. Wall Street Zen lowered shares of AGCO from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group reduced their price objective on AGCO from $123.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Finally, Zacks Research raised AGCO from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.50.

AGCO Stock Up 2.4%

Shares of AGCO stock traded up $2.71 on Monday, hitting $113.62. The stock had a trading volume of 81,910 shares, compared to its average volume of 845,074. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 0.84 and a beta of 1.12. The stock’s 50 day moving average is $114.05 and its 200-day moving average is $116.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.32. AGCO has a 52-week low of $98.22 and a 52-week high of $143.78.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. As a group, research analysts expect that AGCO will post 5.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lange De purchased 1,000 shares of AGCO stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $100.71 per share, for a total transaction of $100,710.00. Following the acquisition, the director directly owned 18,717 shares in the company, valued at $1,884,989.07. This represents a 5.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder & Farm Equipment Ltd Tractors sold 492,418 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $115.33, for a total transaction of $56,790,567.94. Following the transaction, the insider directly owned 3,017,565 shares in the company, valued at $348,015,771.45. The trade was a 14.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 497,622 shares of company stock valued at $57,461,807 in the last three months. Company insiders own 0.62% of the company’s stock.

Institutional Trading of AGCO

Several institutional investors have recently made changes to their positions in the business. Reyes Financial Architecture Inc. bought a new stake in AGCO in the third quarter valued at $25,000. Provenance Wealth Advisors LLC acquired a new stake in shares of AGCO during the third quarter worth $25,000. Fortitude Family Office LLC grew its position in shares of AGCO by 234.8% in the 3rd quarter. Fortitude Family Office LLC now owns 231 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 162 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in AGCO during the 2nd quarter worth approximately $29,000. Finally, Root Financial Partners LLC acquired a new stake in shares of AGCO in the third quarter valued at about $30,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

About AGCO

AGCO Corporation (NYSE: AGCO) is a global manufacturer and distributor of agricultural equipment, technologies and related services. The company serves farmers, agricultural contractors and equipment dealers with products designed for planting, harvesting, crop protection, hay and forage production, and grain handling.

AGCO’s product portfolio includes tractors, combines, planters, seeding equipment, sprayers, hay and forage machinery, grain storage and handling systems, replacement parts, and precision agriculture solutions.