AGCO (NYSE:AGCO) Price Target Lowered to $137.00 at Truist Financial

AGCO (NYSE:AGCO) had its price target reduced by Truist Financial from $142.00 to $137.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on AGCO. JPMorgan Chase & Co. boosted their target price on AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research report on Friday, April 12th. StockNews.com cut shares of AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Finally, Oppenheimer increased their price target on shares of AGCO from $153.00 to $154.00 and gave the company an outperform rating in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $141.83.

AGCO Price Performance

Shares of AGCO opened at $115.49 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. AGCO has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The firm has a 50-day simple moving average of $116.77 and a 200-day simple moving average of $116.88. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last released its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the company posted $3.51 earnings per share. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that AGCO will post 12 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Institutional Investors Weigh In On AGCO

A number of large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in AGCO during the fourth quarter worth approximately $26,000. FinTrust Capital Advisors LLC increased its holdings in AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares during the last quarter. Legacy Financial Group LLC bought a new stake in shares of AGCO in the 3rd quarter valued at approximately $27,000. Manchester Capital Management LLC raised its position in shares of AGCO by 93.2% during the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in AGCO by 72.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds 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.