AGCO (NYSE:AGCO) Research Coverage Started at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of AGCO (NYSE:AGCO) in a research report released on Friday, Marketbeat reports. The brokerage issued a market perform rating and a $96.00 price target on the industrial products company’s stock.

A number of other equities analysts have also recently weighed in on AGCO. Barclays decreased their price objective on shares of AGCO from $145.00 to $110.00 and set an equal weight rating for the company in a research report on Thursday, July 18th. StockNews.com lowered shares of AGCO from a hold rating to a sell rating in a research note on Thursday, August 1st. Citigroup initiated coverage on shares of AGCO in a research report on Wednesday, June 26th. They issued a neutral rating and a $108.00 target price for the company. Truist Financial reiterated a buy rating and issued a $118.00 price objective (down from $130.00) on shares of AGCO in a report on Wednesday, July 31st. Finally, Robert W. Baird decreased their price objective on shares of AGCO from $139.00 to $129.00 and set an outperform rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $118.91.

AGCO Trading Down 2.8 %

Shares of AGCO stock opened at $85.01 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 1.09. AGCO has a 1 year low of $84.35 and a 1 year high of $132.94. The company has a market capitalization of $6.34 billion, a P/E ratio of 5.75, a P/E/G ratio of 0.86 and a beta of 1.27. The business has a 50 day moving average price of $98.01 and a 200 day moving average price of $109.10.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the firm posted $4.29 earnings per share. The company’s revenue was down 15.1% on a year-over-year basis. Sell-side analysts anticipate that AGCO will post 7.89 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, August 15th. AGCO’s dividend payout ratio is currently 7.85%.

Insider Buying and Selling

In other news, Director Michael C. Arnold acquired 1,800 shares of AGCO stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the acquisition, the director now directly owns 20,465 shares in the company, valued at approximately $1,794,575.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other AGCO news, Director Lange Bob De acquired 1,420 shares of AGCO stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $87.91 per share, with a total value of $124,832.20. Following the completion of the purchase, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael C. Arnold purchased 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the transaction, the director now directly owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. The disclosure for this purchase can be found here. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AGCO

A number of institutional investors and hedge funds have recently made changes to their positions in AGCO. Ontario Teachers Pension Plan Board boosted its holdings in AGCO by 30.0% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after buying an additional 7,539 shares during the period. Lecap Asset Management Ltd. bought a new stake in shares of AGCO during the 4th quarter valued at about $1,082,000. UBS Group AG boosted its stake in AGCO by 106.8% during the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock worth $23,328,000 after acquiring an additional 99,212 shares in the last quarter. Corient Private Wealth LLC boosted its stake in AGCO by 176.1% during the fourth quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock worth $2,656,000 after acquiring an additional 13,952 shares in the last quarter. Finally, Cim LLC purchased a new position in AGCO in the fourth quarter worth about $994,000. Institutional investors and hedge funds 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.