JPMorgan Chase & Co. upgraded shares of AGCO (NYSE:AGCO) from an underweight rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $57.00 price objective on the industrial products company’s stock, up from their prior price objective of $55.00.
A number of other equities analysts also recently issued reports on AGCO. Zacks Investment Research upgraded AGCO from a hold rating to a buy rating and set a $68.00 price target on the stock in a research note on Tuesday, July 3rd. ValuEngine downgraded AGCO from a hold rating to a sell rating in a research note on Monday, July 16th. OTR Global downgraded AGCO to a $60.18 rating in a research note on Wednesday, July 18th. Jefferies Financial Group restated a hold rating and issued a $70.00 price target on shares of AGCO in a research note on Friday, July 20th. Finally, TheStreet raised AGCO from a c+ rating to a b- rating in a report on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $69.85.
Shares of AGCO opened at $57.14 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57. AGCO has a 12 month low of $49.50 and a 12 month high of $75.95. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78.
AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $0.76 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that AGCO will post 3.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.05%. AGCO’s dividend payout ratio is presently 19.87%.
A number of large investors have recently bought and sold shares of AGCO. Whittier Trust Co. bought a new stake in AGCO during the second quarter valued at about $124,000. Convergence Investment Partners LLC raised its holdings in AGCO by 1,586.6% during the second quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 3,205 shares during the period. CHICAGO TRUST Co NA bought a new stake in AGCO during the third quarter valued at about $244,000. FDx Advisors Inc. raised its holdings in AGCO by 21.7% during the second quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 978 shares during the period. Finally, Toronto Dominion Bank raised its holdings in AGCO by 45.8% during the second quarter. Toronto Dominion Bank now owns 6,349 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 1,993 shares during the period. 85.11% 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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