Agco Corp. (AGCO) Upgraded to “Neutral” at Piper Jaffray Cos.
Agco Corp. (NYSE:AGCO) was upgraded by stock analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a note issued to investors on Monday.
AGCO has been the topic of several other research reports. Zacks Investment Research lowered Agco Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 20th. Deutsche Bank AG cut their price target on Agco Corp. from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, October 12th. Morgan Stanley set a $54.00 price target on Agco Corp. and gave the stock a “hold” rating in a report on Saturday, September 17th. Credit Suisse Group AG reiterated a “hold” rating and issued a $53.00 price target on shares of Agco Corp. in a report on Tuesday, August 30th. Finally, Wells Fargo & Co. raised Agco Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.00.
Shares of Agco Corp. (NYSE:AGCO) opened at 56.50 on Monday. Agco Corp. has a 12 month low of $42.40 and a 12 month high of $56.54. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 29.15 and a beta of 1.04. The company has a 50-day moving average price of $51.79 and a 200-day moving average price of $49.92.
Agco Corp. (NYSE:AGCO) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.15. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.33 billion. Agco Corp. had a return on equity of 6.85% and a net margin of 2.20%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Analysts forecast that Agco Corp. will post $2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, November 10th. Agco Corp.’s dividend payout ratio is currently 26.94%.
In other Agco Corp. news, VP Gary L. Collar sold 2,309 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $53.00, for a total value of $122,377.00. Following the completion of the sale, the vice president now directly owns 47,663 shares of the company’s stock, valued at $2,526,139. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in AGCO. Vanguard Group Inc. increased its stake in Agco Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,268,974 shares of the company’s stock worth $248,327,000 after buying an additional 90,825 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Agco Corp. by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,648,293 shares of the company’s stock worth $124,809,000 after buying an additional 49,498 shares during the last quarter. BlackRock Fund Advisors raised its position in Agco Corp. by 0.8% in the third quarter. BlackRock Fund Advisors now owns 2,594,823 shares of the company’s stock worth $127,977,000 after buying an additional 21,735 shares during the last quarter. Morgan Stanley raised its position in Agco Corp. by 30.1% in the third quarter. Morgan Stanley now owns 1,633,504 shares of the company’s stock worth $80,563,000 after buying an additional 377,999 shares during the last quarter. Finally, AGF Investments Inc. raised its position in Agco Corp. by 18.7% in the second quarter. AGF Investments Inc. now owns 1,411,182 shares of the company’s stock worth $66,495,000 after buying an additional 221,904 shares during the last quarter. 88.53% of the stock is owned by institutional investors and hedge funds.
About Agco Corp.
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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