AGCO’s (AGCO) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of AGCO (NYSE:AGCO) in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a $136.00 target price on the industrial products company’s stock, down from their previous target price of $146.00.

AGCO has been the topic of several other research reports. Zacks Research raised shares of AGCO from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. JPMorgan Chase & Co. upped their target price on shares of AGCO from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Wall Street Zen cut shares of AGCO from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Oppenheimer reaffirmed an “outperform” rating on shares of AGCO in a research note on Friday, October 30th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $108.00 price target on shares of AGCO in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, AGCO presently has an average rating of “Hold” and an average price target of $123.67.

AGCO Stock Up 1.1%

Shares of AGCO opened at $112.43 on Monday. The business’s 50 day moving average is $114.23 and its 200 day moving average is $116.29. The company has a current ratio of 1.32, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. AGCO has a 12-month low of $98.22 and a 12-month high of $143.78. The company has a market capitalization of $7.75 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.18. AGCO had a return on equity of 9.66% and a net margin of 2.76%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. Research analysts expect that AGCO will post 5.49 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. AGCO’s payout ratio is currently 30.85%.

Insider Buying and Selling

In related news, SVP Kelvin Bennett sold 1,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $132.89, for a total value of $132,890.00. Following the completion of the sale, the senior vice president directly owned 14,047 shares in the company, valued at $1,866,705.83. This trade represents a 6.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivory Harris sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $125.30, for a total value of $200,480.00. Following the completion of the sale, the senior vice president owned 14,454 shares of the company’s stock, valued at approximately $1,811,086.20. This represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,204 shares of company stock worth $671,239. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AGCO

Hedge funds and other institutional investors have recently made changes to their positions in the company. Reyes Financial Architecture Inc. purchased a new stake in AGCO in the 3rd quarter worth about $25,000. Provenance Wealth Advisors LLC purchased a new position in shares of AGCO during the third quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its position in shares of AGCO by 234.8% during the third quarter. Fortitude Family Office LLC now owns 231 shares of the industrial products company’s stock valued at $26,000 after buying an additional 162 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of AGCO during the second quarter valued at approximately $29,000. Finally, Root Financial Partners LLC bought a new position in shares of AGCO during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Company Profile

AGCO Corporation (NYSE: AGCO) is a global manufacturer and distributor of agricultural equipment, technologies and related services. The company serves farmers, agricultural contractors and equipment dealers with products designed for planting, harvesting, crop protection, hay and forage production, and grain handling.

AGCO’s product portfolio includes tractors, combines, planters, seeding equipment, sprayers, hay and forage machinery, grain storage and handling systems, replacement parts, and precision agriculture solutions.