AGCO (NYSE:AGCO) Price Target Lowered to $135.00 at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price target reduced by JPMorgan Chase & Co. from $150.00 to $135.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

AGCO has been the topic of a number of other reports. Truist Financial cut their price target on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a report on Friday. StockNews.com downgraded shares of AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Finally, Oppenheimer lowered their price target on AGCO from $154.00 to $145.00 and set an outperform rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $141.83.

AGCO Stock Up 1.0 %

AGCO opened at $111.79 on Friday. The firm has a 50 day moving average price of $116.61 and a 200-day moving average price of $116.90. The company has a quick ratio of 0.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 0.69 and a beta of 1.32. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. AGCO’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.51 earnings per share. Equities research analysts forecast that AGCO will post 12 earnings per share for the current year.

AGCO Dividend Announcement

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

Hedge Funds Weigh In On AGCO

Hedge funds have recently made changes to their positions in the company. Buck Wealth Strategies LLC purchased a new stake in shares of AGCO in the 1st quarter valued at $1,991,000. Pegasus Asset Management Inc. boosted its holdings in AGCO by 0.9% during the first quarter. Pegasus Asset Management Inc. now owns 29,052 shares of the industrial products company’s stock worth $3,574,000 after buying an additional 249 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of AGCO by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 68,850 shares of the industrial products company’s stock worth $8,426,000 after acquiring an additional 7,022 shares in the last quarter. Finally, Access Investment Management LLC purchased a new position in shares of AGCO in the 1st quarter valued at about $916,000. 78.80% of the stock is owned by institutional investors and hedge funds.

About AGCO

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.