AGCO (NYSE:AGCO) Downgraded to “Neutral” Rating by Robert W. Baird

Robert W. Baird downgraded shares of AGCO (NYSE:AGCO) from an outperform rating to a neutral rating in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage currently has $100.00 price objective on the industrial products company’s stock, down from their previous price objective of $116.00.

AGCO has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer raised their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley assumed coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. Citigroup dropped their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Truist Financial increased their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.30.

AGCO Price Performance

AGCO opened at $90.75 on Monday. AGCO has a 12-month low of $84.35 and a 12-month high of $125.76. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $98.06 and its 200-day simple moving average is $96.18. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of -15.95, a PEG ratio of 1.80 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, equities research analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, February 14th. AGCO’s payout ratio is -20.39%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of AGCO in the fourth quarter worth about $9,086,000. Great Valley Advisor Group Inc. grew its holdings in AGCO by 8.1% during the fourth quarter. Great Valley Advisor Group Inc. now owns 36,567 shares of the industrial products company’s stock worth $3,418,000 after acquiring an additional 2,747 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in AGCO during the fourth quarter worth about $3,031,000. Vise Technologies Inc. acquired a new stake in AGCO during the fourth quarter worth about $294,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AGCO by 534.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock worth $271,259,000 after acquiring an additional 2,444,615 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.