AGCO Co. (NYSE:AGCO) Receives Consensus Rating of “Buy” from Analysts

Shares of AGCO Co. (NYSE:AGCO) have been given a consensus recommendation of “Buy” by the five research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $141.83.

A number of research analysts have commented on the stock. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Oppenheimer decreased their target price on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Finally, 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, May 3rd.

Institutional Investors Weigh In On AGCO

Institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System boosted its holdings in AGCO by 3.2% in the third quarter. California Public Employees Retirement System now owns 122,705 shares of the industrial products company’s stock valued at $14,514,000 after acquiring an additional 3,797 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of AGCO during the third quarter valued at about $625,000. Assenagon Asset Management S.A. raised its stake in AGCO by 22.2% in the third quarter. Assenagon Asset Management S.A. now owns 162,036 shares of the industrial products company’s stock worth $19,166,000 after buying an additional 29,490 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in AGCO in the third quarter worth about $559,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in AGCO by 9.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,425 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO stock opened at $106.54 on Friday. AGCO has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The firm’s fifty day moving average price is $117.12 and its 200-day moving average price is $116.75. The stock has a market cap of $7.95 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 0.67 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 earnings per share. On average, equities research analysts expect that AGCO will post 12.18 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.29 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s payout ratio is 7.85%.

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.