AGCO (NYSE:AGCO) Price Target Raised to $98.00

AGCO (NYSE:AGCO) had its price target raised by Citigroup from $95.00 to $98.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently commented on the stock. Morgan Stanley began coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Truist Financial increased their price target on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Oppenheimer increased their target price on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.60.

AGCO Stock Performance

NYSE AGCO opened at $95.21 on Monday. The stock has a fifty day simple moving average of $98.70 and a 200 day simple moving average of $96.63. AGCO has a twelve month low of $84.35 and a twelve month high of $125.76. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of -16.73, a PEG ratio of 1.80 and a beta of 1.24. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60.

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 analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Sell-side analysts expect that AGCO will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, February 14th. AGCO’s dividend payout ratio (DPR) is -20.39%.

Institutional Trading of AGCO

Several institutional investors have recently bought and sold shares of AGCO. Price T Rowe Associates Inc. MD boosted its holdings in AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock valued at $608,026,000 after purchasing an additional 3,654,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AGCO by 534.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock valued at $271,259,000 after buying an additional 2,444,615 shares during the last quarter. Invesco Ltd. lifted its stake in AGCO by 68.7% during the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after purchasing an additional 961,081 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of AGCO in the 4th quarter valued at $62,022,000. Finally, Norges Bank purchased a new stake in shares of AGCO in the 4th quarter valued at about $57,321,000. 78.80% of the stock is owned by institutional investors and hedge funds.

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.