AGCO Co. (AGCO) to Issue Quarterly Dividend of $0.29 on March 14th

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.29 per share by the industrial products company on Friday, March 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, February 14th.

AGCO has increased its dividend payment by an average of 15.1% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. AGCO has a dividend payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AGCO to earn $6.24 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 18.6%.

AGCO Trading Down 1.5 %

Shares of AGCO opened at $95.96 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.72 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $7.16 billion, a P/E ratio of -16.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The stock’s fifty day simple moving average is $97.68 and its 200 day simple moving average is $95.46. AGCO has a twelve month low of $84.35 and a twelve month high of $125.76.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, equities research analysts forecast that AGCO will post 4.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AGCO shares. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley initiated coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective on the stock. Citigroup lowered their target price on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Truist Financial raised their target price on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Oppenheimer raised their target price on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $107.20.

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.