Citigroup Begins Coverage on AGCO (NYSE:AGCO)

Citigroup initiated coverage on shares of AGCO (NYSE:AGCO) in a report issued on Wednesday, MarketBeat.com reports. The firm issued a neutral rating and a $108.00 price objective on the industrial products company’s stock.

A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on AGCO from $150.00 to $135.00 and set an overweight rating on the stock in a report on Friday, May 3rd. Truist Financial cut their price target on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a report on Friday, May 3rd. Finally, Oppenheimer decreased their price objective on shares of AGCO from $145.00 to $133.00 and set an outperform rating for the company in a report on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AGCO currently has a consensus rating of Moderate Buy and a consensus target price of $132.00.

AGCO Stock Down 1.0 %

AGCO stock opened at $97.87 on Wednesday. The company has a 50 day moving average of $108.42 and a two-hundred day moving average of $114.51. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 0.61 and a beta of 1.31. AGCO has a 12-month low of $96.60 and a 12-month high of $140.46. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company earned $3.51 earnings per share. AGCO’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities analysts anticipate that AGCO will post 12.18 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a yield of 1%. AGCO’s payout ratio is presently 7.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AGCO. Rakuten Securities Inc. bought a new position in shares of AGCO in the fourth quarter worth about $26,000. FinTrust Capital Advisors LLC increased its position in AGCO by 121.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after buying an additional 117 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of AGCO by 93.2% during the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC acquired a new position in shares of AGCO during the first quarter worth approximately $30,000. Finally, Allworth Financial LP boosted its position in shares of AGCO by 72.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.