AGCO (NYSE:AGCO) Earns Market Perform Rating from Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of AGCO (NYSE:AGCO) in a report published on Friday, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $96.00 price target on the industrial products company’s stock.

A number of other equities research analysts also recently commented on the stock. Truist Financial reissued a buy rating and issued a $118.00 price objective (down from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. Oppenheimer cut their price target on AGCO from $133.00 to $132.00 and set an outperform rating on the stock in a research note on Monday, July 22nd. Robert W. Baird lowered their price objective on AGCO from $139.00 to $129.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group cut their target price on AGCO from $127.00 to $112.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. Finally, Raymond James initiated coverage on AGCO in a report on Friday, June 28th. They issued a market perform rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $118.91.

AGCO Stock Down 1.6 %

Shares of NYSE AGCO opened at $87.46 on Friday. The stock has a market cap of $6.53 billion, a P/E ratio of 5.92, a PEG ratio of 0.86 and a beta of 1.27. The business’s fifty day simple moving average is $98.41 and its 200-day simple moving average is $109.38. AGCO has a 12-month low of $84.35 and a 12-month high of $132.94. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the business earned $4.29 EPS. AGCO’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, equities analysts predict that AGCO will post 7.89 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio is currently 7.85%.

Insiders Place Their Bets

In other AGCO news, Director Michael C. Arnold bought 1,800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the purchase, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Michael C. Arnold purchased 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $87.69 per share, with a total value of $157,842.00. Following the completion of the acquisition, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lange Bob De acquired 1,420 shares of the company’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the purchase, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. The disclosure for this purchase can be found here. 16.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AGCO

A number of hedge funds have recently added to or reduced their stakes in AGCO. Strs Ohio raised its stake in shares of AGCO by 0.7% during the 4th quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after buying an additional 87 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in AGCO by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after acquiring an additional 91 shares during the period. Forum Financial Management LP lifted its holdings in AGCO by 5.5% in the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 109 shares during the period. Manchester Capital Management LLC boosted 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 worth $28,000 after purchasing an additional 110 shares in the last quarter. Finally, Capital Insight Partners LLC grew its stake in shares of AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 110 shares during the period. 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.