AGCO (NYSE:AGCO) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of AGCO (NYSE:AGCO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other equities research analysts have also recently commented on the stock. Truist Financial upped their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Citigroup increased their price objective on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Morgan Stanley initiated coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Finally, Oppenheimer decreased their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a 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 stock. According to data from MarketBeat, AGCO presently has a consensus rating of “Hold” and a consensus price target of $108.10.

AGCO Trading Up 3.3 %

NYSE:AGCO opened at $93.50 on Thursday. The company has a market capitalization of $6.98 billion, a PE ratio of 41.37, a P/E/G ratio of 0.56 and a beta of 1.24. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26. The stock’s 50 day moving average price is $97.24 and its 200 day moving average price is $95.97. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the business posted $3.97 earnings per share. The business’s revenue was down 24.8% on a year-over-year basis. On average, research analysts anticipate that AGCO will post 7.36 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. AGCO’s payout ratio is currently 51.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. Victory Capital Management Inc. grew its stake in AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after acquiring an additional 63,432 shares during the last quarter. Dimensional Fund Advisors LP raised its position in AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after purchasing an additional 538,955 shares in the last quarter. State Street Corp increased its stake in shares of AGCO by 4.3% during the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after purchasing an additional 80,846 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of AGCO by 3.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.