AGCO (NYSE:AGCO) Price Target Cut to $137.00

AGCO (NYSE:AGCO) had its price objective decreased by Truist Financial from $142.00 to $137.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. StockNews.com lowered AGCO from a buy rating to a hold rating in a report on Friday, February 9th. Oppenheimer raised their target price on shares of AGCO from $153.00 to $154.00 and gave the company an outperform rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a report on Friday, April 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $141.83.

AGCO Price Performance

AGCO stock opened at $111.81 on Friday. The business’s fifty day moving average price is $116.61 and its 200 day moving average price is $116.89. AGCO has a 12-month low of $105.77 and a 12-month high of $140.46. The company has a current ratio of 1.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $8.34 billion, a PE ratio of 7.56, a P/E/G ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm earned $3.51 earnings per share. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, sell-side analysts anticipate that AGCO will post 12 EPS for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Institutional Trading of AGCO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGCO. FinTrust Capital Advisors LLC acquired a new stake in shares of AGCO in the third quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in AGCO in the 4th quarter valued at $26,000. Legacy Financial Group LLC acquired a new stake in AGCO during the 3rd quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of AGCO during the third quarter worth about $35,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in AGCO during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.