Truist Financial Cuts AGCO (NYSE:AGCO) Price Target to $137.00

AGCO (NYSE:AGCO) had its price objective decreased by Truist Financial from $142.00 to $137.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, April 12th. StockNews.com downgraded shares of AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Finally, Oppenheimer lifted their price objective on shares of AGCO from $153.00 to $154.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, AGCO has a consensus rating of Moderate Buy and an average target price of $141.83.

AGCO Stock Up 1.1 %

Shares of AGCO opened at $111.81 on Friday. AGCO has a 12-month low of $105.77 and a 12-month high of $140.46. The company has a current ratio of 1.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $8.34 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The business’s 50 day moving average is $116.61 and its 200 day moving average is $116.89.

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

AGCO Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Strs Ohio boosted its stake in shares of AGCO by 0.7% during the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock valued at $1,467,000 after purchasing an additional 87 shares during the period. Nkcfo LLC boosted its position in AGCO by 20.5% in the 3rd quarter. Nkcfo LLC now owns 530 shares of the industrial products company’s stock valued at $63,000 after buying an additional 90 shares during the period. SummerHaven Investment Management LLC grew its stake in AGCO by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after acquiring an additional 91 shares in the last quarter. State of Michigan Retirement System increased its position in shares of AGCO by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after acquiring an additional 100 shares during the period. Finally, Denali Advisors LLC boosted its holdings in shares of AGCO by 50.0% in the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 103 shares during the period. Institutional investors 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.