AGCO (NYSE:AGCO) Price Target Raised to $116.00 at Truist Financial

AGCO (NYSE:AGCO) had its price target boosted by Truist Financial from $110.00 to $116.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other research firms have also recently commented on AGCO. Morgan Stanley started coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Citigroup lifted their price objective on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Oppenheimer reduced their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, The Goldman Sachs Group reduced their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $108.10.

AGCO Stock Down 3.8 %

AGCO stock opened at $90.55 on Thursday. The stock has a market capitalization of $6.76 billion, a P/E ratio of 40.07, a P/E/G ratio of 0.56 and a beta of 1.24. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26. The firm has a 50-day simple moving average of $97.37 and a 200-day simple moving average of $96.10. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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). The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.97 earnings per share. Equities analysts forecast that AGCO will post 7.36 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.28%. AGCO’s payout ratio is 51.33%.

Institutional Trading of AGCO

Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in AGCO by 103.5% during the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock worth $153,814,000 after purchasing an additional 799,429 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after purchasing an additional 605,509 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of AGCO by 28.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after buying an additional 391,591 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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. Finally, Barclays PLC raised its holdings in AGCO by 386.8% in the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after buying an additional 198,014 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.