AGCO (NYSE:AGCO) Cut to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of AGCO (NYSE:AGCO) from an outperform rating to a neutral rating in a report released on Monday morning, Marketbeat reports. Robert W. Baird currently has $100.00 price objective on the industrial products company’s stock, down from their prior price objective of $116.00.

Several other equities research analysts have also issued reports on the stock. Oppenheimer raised their target price on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Citigroup lowered their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Truist Financial lifted their price objective on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.30.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $91.56 on Monday. AGCO has a 52 week low of $84.35 and a 52 week high of $125.76. The stock has a market capitalization of $6.83 billion, a P/E ratio of -16.09, a PEG ratio of 1.80 and a beta of 1.24. The firm has a fifty day simple moving average of $97.90 and a two-hundred day simple moving average of $96.21. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is -20.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AGCO. Price T Rowe Associates Inc. MD grew its position in shares of AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock worth $608,026,000 after buying an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AGCO by 534.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock worth $271,259,000 after purchasing an additional 2,444,615 shares during the last quarter. Invesco Ltd. grew its position in AGCO by 68.7% during the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after purchasing an additional 961,081 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in AGCO during the 4th quarter worth approximately $62,022,000. Finally, Norges Bank purchased a new stake in AGCO during the 4th quarter worth approximately $57,321,000. Hedge funds and other institutional investors 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.