AGCO (NYSE:AGCO) Price Target Lowered to $137.00 at Truist Financial

AGCO (NYSE:AGCO) had its price objective decreased by Truist Financial from $142.00 to $137.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on AGCO. StockNews.com lowered shares of AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Oppenheimer lifted their target price on shares of AGCO from $153.00 to $154.00 and gave the company an outperform rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $141.83.

AGCO Price Performance

Shares of AGCO opened at $115.49 on Friday. The firm has a market capitalization of $8.62 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. The company’s fifty day moving average price is $116.77 and its 200-day moving average price is $116.88. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the firm earned $3.51 EPS. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities research analysts predict that AGCO will post 12 EPS for the current year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 1.00%. AGCO’s payout ratio is 7.85%.

Institutional Trading of AGCO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its stake in AGCO by 3,115.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after acquiring an additional 1,155,440 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of AGCO by 7,297.1% during the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Norges Bank acquired a new stake in shares of AGCO during the fourth quarter worth about $83,733,000. Victory Capital Management Inc. boosted its stake in shares of AGCO by 24.7% in the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock valued at $359,852,000 after purchasing an additional 601,877 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new position in shares of AGCO in the third quarter valued at approximately $38,690,000. 78.80% of the stock is currently owned by hedge funds and other 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.