AGCO (NYSE:AGCO) had its price objective cut by Credit Suisse Group from $75.00 to $72.00 in a research note issued to investors on Wednesday, February 7th. They currently have a neutral rating on the industrial products company’s stock.
A number of other equities analysts also recently weighed in on AGCO. Bank of America cut their target price on AGCO from $70.00 to $64.00 and set an underperform rating on the stock in a research note on Wednesday, February 7th. JPMorgan Chase & Co. upgraded AGCO from an underweight rating to a neutral rating in a research note on Wednesday, February 7th. Seaport Global Securities restated a hold rating on shares of AGCO in a research note on Thursday, January 18th. Stifel Nicolaus restated a hold rating and issued a $73.00 target price on shares of AGCO in a research note on Thursday, December 21st. Finally, UBS Group reiterated a neutral rating on shares of AGCO in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $73.07.
AGCO (NYSE AGCO) remained flat at $$68.10 during mid-day trading on Wednesday. 256,013 shares of the stock were exchanged, compared to its average volume of 807,647. The firm has a market cap of $5,426.06, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.37. AGCO has a 52 week low of $58.00 and a 52 week high of $75.95.
AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.40 billion. AGCO had a net margin of 2.24% and a return on equity of 8.04%. AGCO’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. research analysts anticipate that AGCO will post 3.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.15 per share. This is a boost from AGCO’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. AGCO’s payout ratio is presently 24.14%.
In other AGCO news, SVP Robert B. Crain sold 7,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $70.72, for a total transaction of $495,040.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 16.60% of the company’s stock.
Hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. increased its holdings in shares of AGCO by 1,020.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,354,033 shares of the industrial products company’s stock worth $168,149,000 after purchasing an additional 2,143,931 shares during the period. BlackRock Inc. increased its holdings in shares of AGCO by 5.9% in the fourth quarter. BlackRock Inc. now owns 6,754,418 shares of the industrial products company’s stock worth $482,468,000 after purchasing an additional 378,009 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of AGCO by 262.8% in the third quarter. Teacher Retirement System of Texas now owns 364,230 shares of the industrial products company’s stock worth $26,869,000 after purchasing an additional 263,831 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in shares of AGCO in the third quarter worth $17,343,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of AGCO by 44.3% in the third quarter. JPMorgan Chase & Co. now owns 750,005 shares of the industrial products company’s stock worth $55,109,000 after purchasing an additional 230,409 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.
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AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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