AGCO (NYSE:AGCO) Stock Price Up 5.9% – Here’s What Happened

AGCO Co. (NYSE:AGCO) shot up 5.9% during mid-day trading on Monday . The stock traded as high as $96.45 and last traded at $96.22. 446,090 shares were traded during mid-day trading, a decline of 35% from the average session volume of 688,753 shares. The stock had previously closed at $90.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley initiated coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Citigroup lifted their price objective on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Truist Financial boosted their price objective 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. Finally, Oppenheimer reduced their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, AGCO has an average rating of “Hold” and a consensus target price of $108.10.

AGCO Stock Performance

The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 42.98, a P/E/G ratio of 0.56 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The firm has a fifty day simple moving average of $94.97 and a two-hundred day simple moving average of $94.89.

AGCO (NYSE:AGCO) last posted its quarterly 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 firm 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 firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 EPS. On average, analysts expect that AGCO Co. will post 7.36 EPS for the current year.

AGCO Dividend Announcement

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

Institutional Investors Weigh In On AGCO

Hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of AGCO in the third quarter valued at about $29,000. Venturi Wealth Management LLC lifted its stake in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after buying an additional 139 shares during the last quarter. LRI Investments LLC increased its stake in AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 117 shares during the last quarter. 78.80% of the stock is 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.