AGCO (NYSE:AGCO) Given New $99.00 Price Target at The Goldman Sachs Group

AGCO (NYSE:AGCO) had its price target cut by The Goldman Sachs Group from $112.00 to $99.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on AGCO. Barclays lowered their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. Oppenheimer lowered their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Citigroup lifted their price objective on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $114.40.

AGCO Stock Performance

AGCO stock opened at $91.86 on Wednesday. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 0.94 and a beta of 1.25. The stock’s 50 day simple moving average is $95.69 and its two-hundred day simple moving average is $99.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during 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 revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.97 earnings per share. As a group, analysts expect that AGCO will post 7.48 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio is currently 51.33%.

Institutional Trading of AGCO

A number of large investors have recently made changes to their positions in the stock. Sei Investments Co. boosted its holdings in AGCO by 28.6% in the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after purchasing an additional 14,201 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of AGCO by 30.0% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after buying an additional 7,171 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of AGCO by 575.9% in the first quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock worth $5,125,000 after acquiring an additional 35,500 shares during the period. Price T Rowe Associates Inc. MD increased its position in AGCO by 146.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock valued at $10,538,000 after acquiring an additional 50,892 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in AGCO by 377.0% in the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock valued at $2,177,000 after acquiring an additional 13,985 shares during the period. 78.80% of the stock is currently owned by institutional investors.

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.