AGCO Co. (NYSE:AGCO – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $102.05, but opened at $95.84. AGCO shares last traded at $95.66, with a volume of 273,724 shares.
Wall Street Analyst Weigh In
AGCO has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Barclays reduced their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their price target on AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Oppenheimer cut their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Truist Financial decreased their target price on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $126.63.
AGCO Trading Down 5.7 %
The firm has a fifty day moving average of $101.42 and a two-hundred day moving average of $111.15. The company has a market cap of $7.18 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.27. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.
AGCO (NYSE:AGCO – Get Free Report) last posted its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share 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 the consensus estimate of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company’s revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the company earned $3.51 earnings per share. As a group, sell-side analysts predict that AGCO Co. will post 10.95 EPS for the current year.
AGCO Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is currently 7.85%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its stake in AGCO by 136.5% during the fourth quarter. Raymond James & Associates now owns 83,208 shares of the industrial products company’s stock valued at $10,102,000 after acquiring an additional 48,025 shares in the last quarter. Denali Advisors LLC increased 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 worth $38,000 after purchasing an additional 103 shares during the period. Chicago Capital LLC purchased a new stake in shares of AGCO in the fourth quarter worth $1,761,000. Nvest Financial LLC raised its position in shares of AGCO by 56.8% in the fourth quarter. Nvest Financial LLC now owns 4,545 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,647 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in 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 valued at $1,816,000 after buying an additional 100 shares during the period. Hedge funds and other 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.