AGCO (NYSE:AGCO) Price Target Raised to $100.00 at Citigroup

AGCO (NYSE:AGCO) had its price objective raised by Citigroup from $95.00 to $100.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on AGCO. Morgan Stanley assumed coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Oppenheimer reduced their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Truist Financial upped their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group cut their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AGCO presently has a consensus rating of “Hold” and an average price target of $113.18.

AGCO Price Performance

Shares of NYSE:AGCO opened at $99.66 on Monday. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The company’s 50 day moving average is $97.55 and its 200 day moving average is $96.52. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.44 billion, a PE ratio of 44.10, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the business earned $3.97 EPS. The company’s quarterly revenue was down 24.8% on a year-over-year basis. On average, sell-side analysts forecast that AGCO will post 7.36 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.16%. AGCO’s dividend payout ratio (DPR) is 51.33%.

Institutional Investors Weigh In On AGCO

A number of large investors have recently bought and sold shares of AGCO. Great Valley Advisor Group Inc. increased its holdings in AGCO by 30.0% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after purchasing an additional 7,171 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in AGCO by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock worth $61,024,000 after purchasing an additional 12,328 shares during the period. Cetera Investment Advisers boosted its holdings in shares of AGCO by 377.0% during the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock worth $2,177,000 after acquiring an additional 13,985 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in shares of AGCO by 42.3% during the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock worth $1,670,000 after acquiring an additional 5,069 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of AGCO by 150.1% during the third quarter. Crossmark Global Holdings Inc. now owns 16,591 shares of the industrial products company’s stock worth $1,624,000 after acquiring an additional 9,956 shares during the period. 78.80% of the stock is currently owned by 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.