Brokerages Set AGCO Co. (NYSE:AGCO) Price Target at $101.80

Shares of AGCO Co. (NYSE:AGCO) have been given a consensus rating of “Hold” by the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $102.70.

AGCO has been the topic of several recent research reports. Citigroup increased their price target on AGCO from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 5th. Morgan Stanley increased their price target on AGCO from $75.00 to $84.00 and gave the company an “underweight” rating in a report on Monday. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. Truist Financial reduced their target price on AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. increased their target price on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th.

AGCO Trading Up 6.3%

AGCO stock opened at $105.59 on Friday. AGCO has a 1-year low of $73.79 and a 1-year high of $119.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of -18.56, a PEG ratio of 1.80 and a beta of 1.20. The business has a 50 day simple moving average of $89.76 and a two-hundred day simple moving average of $94.65.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.38. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The company’s quarterly revenue was down 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.32 EPS. Research analysts anticipate that AGCO will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO’s dividend payout ratio (DPR) is currently -14.87%.

Hedge Funds Weigh In On AGCO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. CCM Investment Group LLC acquired a new position in shares of AGCO in the 1st quarter valued at $237,000. Nuveen LLC purchased a new stake in shares of AGCO in the 1st quarter valued at $10,264,000. Virtu Financial LLC purchased a new stake in shares of AGCO in the 1st quarter valued at $1,012,000. Entropy Technologies LP purchased a new stake in shares of AGCO in the 1st quarter valued at $1,902,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of AGCO by 1,250.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,131 shares of the industrial products company’s stock valued at $10,565,000 after buying an additional 105,679 shares during the period. 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.