AGCO Co. (NYSE:AGCO – Get Free Report) declared a quarterly dividend on Thursday, January 18th, Wall Street Journal reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.29 per share by the industrial products company on Friday, March 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, February 14th.
AGCO has increased its dividend by an average of 20.2% per year over the last three years and has increased its dividend every year for the last 3 years. AGCO has a dividend payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AGCO to earn $12.50 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 9.3%.
AGCO Price Performance
Shares of AGCO stock opened at $115.04 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.72. The business’s 50 day simple moving average is $119.72 and its two-hundred day simple moving average is $120.05. The stock has a market capitalization of $8.61 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 0.65 and a beta of 1.35. AGCO has a one year low of $109.81 and a one year high of $145.53.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Meridian Wealth Management LLC purchased a new stake in AGCO during the fourth quarter valued at $227,000. GSA Capital Partners LLP purchased a new stake in AGCO during the fourth quarter valued at $218,000. XTX Topco Ltd purchased a new stake in AGCO during the first quarter valued at $213,000. Orion Portfolio Solutions LLC purchased a new stake in AGCO during the fourth quarter valued at $211,000. Finally, First Republic Investment Management Inc. purchased a new stake in AGCO during the first quarter valued at $211,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on AGCO. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on AGCO from $142.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, December 4th. Stifel Nicolaus dropped their price target on AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a research report on Tuesday, December 19th. Finally, Oppenheimer restated an “outperform” rating and set a $153.00 price target on shares of AGCO in a research report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO presently has a consensus rating of “Moderate Buy” and an average price target of $147.56.
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.
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