AGCO (NYSE:AGCO) Price Target Cut to $130.00 by Analysts at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price objective decreased by JPMorgan Chase & Co. from $135.00 to $130.00 in a research note issued to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on the company. Truist Financial dropped their price target on AGCO from $142.00 to $137.00 and set a buy rating for the company in a research report on Friday, May 3rd. Oppenheimer reduced their price target on AGCO from $145.00 to $133.00 and set an outperform rating on the stock in a report on Wednesday, June 12th. Raymond James started coverage on shares of AGCO in a research report on Friday. They set a market perform rating for the company. Finally, Citigroup initiated coverage on shares of AGCO in a report on Wednesday. They issued a neutral rating and a $108.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, AGCO currently has a consensus rating of Moderate Buy and a consensus price target of $132.00.

AGCO Stock Down 1.0 %

NYSE AGCO opened at $97.87 on Friday. The business has a fifty day moving average price of $108.42 and a 200 day moving average price of $114.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The company has a market cap of $7.30 billion, a P/E ratio of 6.62, a P/E/G ratio of 0.61 and a beta of 1.31. AGCO has a one year low of $96.60 and a one year high of $140.46.

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

AGCO Cuts Dividend

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

Hedge Funds Weigh In On AGCO

Several large investors have recently made changes to their positions in AGCO. Envestnet Asset Management Inc. lifted its stake in AGCO by 50.6% during the third quarter. Envestnet Asset Management Inc. now owns 26,315 shares of the industrial products company’s stock worth $3,113,000 after purchasing an additional 8,836 shares in the last quarter. Hsbc Holdings PLC lifted its stake in AGCO by 89.5% during the 3rd quarter. Hsbc Holdings PLC now owns 11,727 shares of the industrial products company’s stock worth $1,396,000 after acquiring an additional 5,540 shares in the last quarter. LPL Financial LLC boosted its holdings in AGCO by 11.6% during the 3rd quarter. LPL Financial LLC now owns 28,747 shares of the industrial products company’s stock valued at $3,394,000 after acquiring an additional 2,981 shares during the period. Stifel Financial Corp grew its position in AGCO by 7.4% in the 3rd quarter. Stifel Financial Corp now owns 40,906 shares of the industrial products company’s stock valued at $4,838,000 after acquiring an additional 2,820 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in AGCO by 16.1% during the third quarter. Natixis Advisors L.P. now owns 37,507 shares of the industrial products company’s stock worth $4,436,000 after purchasing an additional 5,207 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.