AGCO (NYSE:AGCO) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a report issued on Thursday.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer dropped their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Truist Financial boosted their price target on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Finally, Citigroup upped their price target on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $108.10.

AGCO Stock Performance

Shares of AGCO stock opened at $90.55 on Thursday. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6.76 billion, a PE ratio of 40.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. The business has a fifty day simple moving average of $97.37 and a 200-day simple moving average of $96.10.

AGCO (NYSE:AGCO) last released its 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 business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the firm earned $3.97 EPS. On average, sell-side analysts anticipate that AGCO will post 7.36 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, November 15th. AGCO’s payout ratio is currently 51.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in shares of AGCO during the third quarter worth $29,000. LRI Investments LLC increased its position in shares of AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock valued at $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. raised its stake in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after buying an additional 174 shares during the period. Venturi Wealth Management LLC grew its stake in AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares in the last quarter. 78.80% of the stock is 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.