AGCO (NYSE:AGCO) Price Target Raised to $111.00

AGCO (NYSE:AGCO) had its price objective raised by JPMorgan Chase & Co. from $102.00 to $111.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other analysts have also issued reports on the company. Oppenheimer cut their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Truist Financial upped their price target on shares of AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley initiated coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, AGCO presently has a consensus rating of “Hold” and a consensus target price of $107.40.

AGCO Stock Performance

AGCO stock opened at $97.23 on Wednesday. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.26 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. The firm’s 50 day simple moving average is $95.15 and its 200 day simple moving average is $94.89.

AGCO (NYSE:AGCO) last issued 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). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the firm posted $3.97 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, analysts expect that AGCO will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s dividend payout ratio is presently 51.33%.

Hedge Funds Weigh In On AGCO

Large investors have recently made changes to their positions in the business. Gateway Investment Advisers LLC purchased a new position in AGCO during the fourth quarter valued at $311,000. Assenagon Asset Management S.A. grew its position in shares of AGCO by 96.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 24,473 shares of the industrial products company’s stock valued at $2,288,000 after purchasing an additional 12,031 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of AGCO by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 78,808 shares of the industrial products company’s stock worth $7,392,000 after purchasing an additional 4,143 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of AGCO in the fourth quarter worth about $236,000. Finally, GAMMA Investing LLC boosted its stake in AGCO by 174.7% during the fourth quarter. GAMMA Investing LLC now owns 544 shares of the industrial products company’s stock valued at $51,000 after buying an additional 346 shares during the last quarter. 78.80% of the stock is currently 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.