AGCO (NYSE:AGCO) Now Covered by Analysts at Citigroup

Citigroup began coverage on shares of AGCO (NYSE:AGCO) in a research note published on Wednesday morning, Marketbeat reports. The firm issued a neutral rating and a $108.00 price objective on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the company. Oppenheimer cut their price target on AGCO from $145.00 to $133.00 and set an outperform rating on the stock in a research note on Wednesday, June 12th. Truist Financial cut their price target on AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. cut their price target on AGCO from $150.00 to $135.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $132.83.

AGCO Stock Up 0.8 %

Shares of NYSE AGCO opened at $99.22 on Wednesday. The stock has a market cap of $7.40 billion, a P/E ratio of 6.71, a PEG ratio of 0.60 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. AGCO has a 12-month low of $96.60 and a 12-month high of $140.46. The business’s fifty day simple moving average is $109.20 and its 200-day simple moving average is $114.74.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the firm earned $3.51 earnings per share. As a group, equities analysts predict that AGCO will post 12.18 EPS for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.29 per share. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Tuesday, May 14th. AGCO’s payout ratio is 7.85%.

Hedge Funds Weigh In On AGCO

Hedge funds have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board grew its holdings in shares of AGCO by 30.0% during the fourth 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 last quarter. Lecap Asset Management Ltd. purchased a new position in shares of AGCO during the fourth quarter worth about $1,082,000. UBS Group AG grew its holdings in shares of 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 buying an additional 99,212 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of 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 buying an additional 13,952 shares during the last quarter. Finally, Cim LLC purchased a new position in shares of AGCO during the fourth quarter worth about $994,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.