AGCO (NYSE:AGCO) Given New $130.00 Price Target at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price objective reduced by JPMorgan Chase & Co. from $135.00 to $130.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the stock. Citigroup assumed coverage on shares of AGCO in a research note on Wednesday, June 26th. They issued a neutral rating and a $108.00 price objective for the company. Oppenheimer decreased their price objective on shares of AGCO from $145.00 to $133.00 and set an outperform rating for the company in a research note on Wednesday, June 12th. Truist Financial decreased their price objective on shares of AGCO from $142.00 to $137.00 and set a buy rating for the company in a research note on Friday, May 3rd. Finally, Raymond James assumed coverage on shares of AGCO in a research note on Friday. They set a market perform rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $132.00.

AGCO Price Performance

AGCO stock opened at $95.55 on Friday. The stock has a market cap of $7.13 billion, a P/E ratio of 6.46, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. The company has a fifty day simple moving average of $107.95 and a 200-day simple moving average of $114.30. AGCO has a 12-month low of $95.03 and a 12-month high of $140.46. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm posted $3.51 earnings per share. AGCO’s revenue for the quarter was down 12.1% on a year-over-year basis. Equities analysts expect that AGCO will post 11.82 EPS for the current fiscal year.

AGCO Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a dividend yield of 1%. AGCO’s dividend payout ratio (DPR) is 7.85%.

Institutional Investors Weigh In On AGCO

Several hedge funds have recently made changes to their positions in AGCO. Ontario Teachers Pension Plan Board raised its holdings in AGCO by 30.0% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after purchasing an additional 7,539 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in AGCO during the fourth quarter worth about $1,082,000. UBS Group AG raised its holdings in AGCO by 106.8% during the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock worth $23,328,000 after purchasing an additional 99,212 shares in the last quarter. Corient Private Wealth LLC raised its holdings in AGCO by 176.1% during the fourth quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock worth $2,656,000 after purchasing an additional 13,952 shares in the last quarter. Finally, Cim LLC purchased a new position in AGCO during the fourth quarter worth about $994,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.