Oppenheimer Cuts AGCO (NYSE:AGCO) Price Target to $145.00

AGCO (NYSE:AGCO) had its price objective decreased by Oppenheimer from $154.00 to $145.00 in a research note issued to investors on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

AGCO has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a report on Friday, April 12th. Truist Financial reduced their price objective on AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research note on Friday. Finally, StockNews.com lowered AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AGCO presently has a consensus rating of Moderate Buy and an average price target of $141.83.

AGCO Stock Performance

AGCO stock opened at $111.81 on Friday. The firm has a market capitalization of $8.34 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.70 and a beta of 1.32. The stock has a fifty day moving average price of $116.61 and a two-hundred day moving average price of $116.89. AGCO has a 52-week low of $105.77 and a 52-week high of $140.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the company posted $3.51 EPS. As a group, analysts anticipate that AGCO will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio is 7.85%.

Institutional Investors Weigh In On AGCO

Institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in AGCO by 356.3% in the third quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock valued at $3,697,000 after acquiring an additional 24,408 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of AGCO by 23.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 104,597 shares of the industrial products company’s stock valued at $12,372,000 after purchasing an additional 19,893 shares during the period. Xponance Inc. boosted its holdings in AGCO by 19.1% during the third quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock worth $1,067,000 after buying an additional 1,448 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of AGCO during the 3rd quarter worth about $26,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of AGCO by 161.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,461 shares of the industrial products company’s stock valued at $1,237,000 after acquiring an additional 6,467 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.