AGCO Corporation (NYSE:AGCO) had its target price increased by BMO Capital Markets from $70.00 to $75.00 in a research note issued to investors on Tuesday. They currently have a market perform rating on the industrial products company’s stock.
AGCO has been the subject of several other reports. Citigroup Inc. upped their target price on AGCO Corporation from $65.00 to $68.00 and gave the company a neutral rating in a report on Monday, May 1st. Stifel Nicolaus initiated coverage on AGCO Corporation in a research note on Monday, April 10th. They issued a hold rating and a $64.00 price objective for the company. Bank of America Corporation raised AGCO Corporation from an underperform rating to a neutral rating in a research note on Monday, June 19th. William Blair raised AGCO Corporation from a market perform rating to an outperform rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research raised AGCO Corporation from a hold rating to a buy rating and set a $68.00 price objective for the company in a research note on Tuesday, April 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $64.40.
AGCO Corporation (NYSE:AGCO) opened at 72.20 on Tuesday. AGCO Corporation has a 52 week low of $46.22 and a 52 week high of $73.97. The company has a 50-day moving average of $69.15 and a 200 day moving average of $64.08. The firm has a market cap of $5.74 billion, a P/E ratio of 31.57 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last announced its earnings results on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business posted $1.25 earnings per share. AGCO Corporation’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that AGCO Corporation will post $3.05 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 11th. AGCO Corporation’s dividend payout ratio is 24.56%.
In other AGCO Corporation news, VP Richard Robinson Smith sold 2,037 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $63.91, for a total value of $130,184.67. Following the sale, the vice president now owns 41,717 shares of the company’s stock, valued at approximately $2,666,133.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert B. Crain sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares in the company, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in AGCO Corporation by 15.7% in the first quarter. Russell Investments Group Ltd. now owns 248,647 shares of the industrial products company’s stock worth $14,965,000 after buying an additional 33,779 shares during the period. Janney Montgomery Scott LLC acquired a new stake in AGCO Corporation during the first quarter worth about $378,000. Korea Investment CORP acquired a new stake in AGCO Corporation during the first quarter worth about $3,292,000. Nationwide Fund Advisors raised its stake in AGCO Corporation by 2.3% in the first quarter. Nationwide Fund Advisors now owns 131,444 shares of the industrial products company’s stock worth $7,910,000 after buying an additional 3,011 shares during the period. Finally, James Investment Research Inc. raised its stake in AGCO Corporation by 11.6% in the first quarter. James Investment Research Inc. now owns 174,454 shares of the industrial products company’s stock worth $10,499,000 after buying an additional 18,100 shares during the period. 84.24% of the stock is currently owned by hedge funds and other institutional investors.
AGCO Corporation Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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