TheStreet cut shares of AGCO (NYSE:AGCO) from a b rating to a c+ rating in a research note published on Thursday morning.
A number of other brokerages also recently commented on AGCO. Royal Bank of Canada reiterated a hold rating and set a $77.00 price objective on shares of AGCO in a research report on Wednesday, April 18th. Morgan Stanley assumed coverage on AGCO in a research report on Friday, March 2nd. They set an underweight rating and a $69.00 price objective for the company. ValuEngine raised shares of AGCO from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of AGCO from a hold rating to a sell rating in a research note on Friday, April 27th. Finally, Goldman Sachs Group downgraded shares of AGCO from a conviction-buy rating to a buy rating in a research note on Tuesday, May 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. AGCO currently has an average rating of Hold and a consensus price target of $72.79.
Shares of NYSE:AGCO opened at $60.73 on Thursday. AGCO has a one year low of $58.12 and a one year high of $75.95. The firm has a market cap of $4.81 billion, a PE ratio of 20.11, a P/E/G ratio of 1.32 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.50 and a quick ratio of 0.65.
AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.23. AGCO had a return on equity of 8.86% and a net margin of 2.54%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. equities research analysts expect that AGCO will post 3.81 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, May 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Monday, May 14th. AGCO’s dividend payout ratio (DPR) is currently 19.87%.
In other news, SVP Lucinda B. Smith sold 1,500 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $68.50, for a total value of $102,750.00. Following the transaction, the senior vice president now directly owns 44,373 shares of the company’s stock, valued at $3,039,550.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AGCO. First Trust Advisors LP increased its stake in shares of AGCO by 1.1% in the fourth quarter. First Trust Advisors LP now owns 174,929 shares of the industrial products company’s stock worth $12,495,000 after acquiring an additional 1,935 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of AGCO by 12.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 109,753 shares of the industrial products company’s stock worth $7,840,000 after acquiring an additional 12,400 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of AGCO by 39.6% in the fourth quarter. Toronto Dominion Bank now owns 3,750 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 1,064 shares during the last quarter. Arizona State Retirement System increased its stake in shares of AGCO by 26.9% in the fourth quarter. Arizona State Retirement System now owns 47,464 shares of the industrial products company’s stock worth $3,390,000 after acquiring an additional 10,067 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of AGCO in the fourth quarter worth $257,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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