Citigroup Cuts AGCO (NYSE:AGCO) Price Target to $115.00

AGCO (NYSE:AGCO) had its target price cut by Citigroup from $120.00 to $115.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer reissued an “outperform” rating and issued a $123.00 target price on shares of AGCO in a research report on Monday. JPMorgan Chase & Co. raised their price objective on AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Barclays increased their target price on AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research report on Wednesday, October 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.67.

AGCO Stock Up 2.0%

NYSE:AGCO opened at $106.77 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 79.68, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. AGCO has a twelve month low of $73.79 and a twelve month high of $121.16. The stock’s 50 day moving average price is $108.18 and its two-hundred day moving average price is $105.60.

AGCO (NYSE:AGCO) last posted its earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. Equities research analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO’s payout ratio is presently 23.06%.

AGCO announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the sale, the senior vice president directly owned 16,189 shares in the company, valued at $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.60% of the stock is currently owned by insiders.

Institutional Trading of AGCO

A number of hedge funds and other institutional investors have recently made changes to their positions in AGCO. GAMMA Investing LLC grew its position in AGCO by 66.9% during the first quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company’s stock worth $84,000 after buying an additional 364 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in AGCO in the 1st quarter worth approximately $1,212,000. Bank of New York Mellon Corp boosted its holdings in AGCO by 62.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company’s stock valued at $105,129,000 after acquiring an additional 436,237 shares during the period. Envestnet Asset Management Inc. boosted its holdings in AGCO by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company’s stock valued at $9,252,000 after acquiring an additional 8,293 shares during the period. Finally, M&T Bank Corp raised its position in AGCO by 3.6% during the 1st quarter. M&T Bank Corp now owns 38,977 shares of the industrial products company’s stock valued at $3,609,000 after purchasing an additional 1,356 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

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.