AGCO (NYSE:AGCO) Shares Gap Down to $102.05

AGCO Co. (NYSE:AGCO)’s share price gapped down before the market opened 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.

Analyst Ratings Changes

AGCO has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. reduced their price target on AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Raymond James initiated coverage on AGCO in a research report on Friday, June 28th. They set a “market perform” rating for the company. Barclays reduced their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. Finally, Oppenheimer reduced their price target on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $126.63.

AGCO Price Performance

The firm has a market capitalization of $7.23 billion, a PE ratio of 6.47, a PEG ratio of 0.71 and a beta of 1.27. The stock has a 50-day moving average price of $101.42 and a 200 day moving average price of $111.15. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the business earned $3.51 earnings per share. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. Equities analysts forecast that AGCO Co. will post 10.95 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s payout ratio is 7.85%.

Institutional Trading of AGCO

Large investors have recently made changes to their positions in the company. Strs Ohio boosted its stake in AGCO by 0.7% during the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after buying an additional 87 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in AGCO by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares during the last quarter. 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 worth $1,816,000 after buying an additional 100 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in AGCO by 30.1% during the fourth quarter. Venturi Wealth Management LLC now owns 445 shares of the industrial products company’s stock worth $54,000 after buying an additional 103 shares during the last quarter. Finally, Denali Advisors LLC boosted its stake in AGCO by 50.0% during the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after buying an additional 103 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.