AGCO (NYSE:AGCO) Price Target Lowered to $132.00 at Oppenheimer

AGCO (NYSE:AGCO) had its target price lowered by Oppenheimer from $133.00 to $132.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also commented on the stock. Barclays dropped their price target on shares of AGCO from $145.00 to $110.00 and set an equal weight rating on the stock in a research report on Thursday, July 18th. Truist Financial dropped their price target on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research report on Friday, May 3rd. The Goldman Sachs Group dropped their price target on shares of AGCO from $127.00 to $112.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. Raymond James started coverage on shares of AGCO in a research report on Friday, June 28th. They set a market perform rating on the stock. Finally, Citigroup started coverage on shares of AGCO in a research report on Wednesday, June 26th. They issued a neutral rating and a $108.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $126.63.

AGCO Stock Up 4.1 %

NYSE:AGCO opened at $101.84 on Monday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 6.89, a PEG ratio of 0.67 and a beta of 1.27. AGCO has a 1-year low of $92.75 and a 1-year high of $139.74. The company’s fifty day moving average price is $101.91 and its 200-day moving average price is $111.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.51 earnings per share. As a group, equities research analysts anticipate that AGCO will post 11.08 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.29 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.14%. AGCO’s dividend payout ratio (DPR) is 7.85%.

Hedge Funds Weigh In On AGCO

Several hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio lifted its stake in shares of AGCO by 0.7% in the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after buying an additional 87 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of AGCO by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of AGCO by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after buying an additional 100 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of AGCO by 30.1% in the fourth quarter. Venturi Wealth Management LLC now owns 445 shares of the industrial products company’s stock worth $54,000 after buying an additional 103 shares in the last quarter. Finally, Denali Advisors LLC lifted its stake in shares of AGCO by 50.0% in the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after buying an additional 103 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

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.