AGCO (NYSE:AGCO) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a research note released on Tuesday.

Several other research analysts have also commented on the company. UBS Group cut their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer decreased their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Barclays reduced their target price on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. Truist Financial raised their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup lifted their target price on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.40.

AGCO Stock Down 1.6 %

Shares of NYSE AGCO opened at $90.34 on Tuesday. The business has a 50-day moving average of $95.75 and a two-hundred day moving average of $98.67. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business earned $3.97 earnings per share. AGCO’s revenue was down 24.8% compared to the same quarter last year. On average, analysts forecast that AGCO will post 7.3 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s payout ratio is currently 51.33%.

Hedge Funds Weigh In On AGCO

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after purchasing an additional 784,617 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of AGCO by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after buying an additional 63,432 shares during the period. Dimensional Fund Advisors LP boosted its position in AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the last quarter. Pacer Advisors Inc. raised its holdings in AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after acquiring an additional 538,955 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of AGCO by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Company Profile

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.