JPMorgan Chase & Co. upgraded shares of AGCO (NYSE:AGCO) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $82.00 price objective on the industrial products company’s stock, up from their previous price objective of $77.00. The analysts noted that the move was a valuation call.

Several other research analysts have also recently weighed in on AGCO. Morgan Stanley raised their target price on AGCO from $60.00 to $65.00 and gave the company an underweight rating in a research note on Wednesday, July 10th. Stephens began coverage on AGCO in a research report on Wednesday, August 14th. They issued an overweight rating and a $80.00 price target for the company. Jefferies Financial Group upgraded AGCO from a hold rating to a buy rating and increased their price target for the company from $70.00 to $90.00 in a research report on Monday, June 24th. Stifel Nicolaus upgraded AGCO from a hold rating to a buy rating and increased their price target for the company from $79.00 to $84.00 in a research report on Friday, September 6th. Finally, Credit Suisse Group reiterated a neutral rating and issued a $83.00 price target (up previously from $70.00) on shares of AGCO in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. AGCO presently has a consensus rating of Hold and a consensus price target of $77.73.

Shares of AGCO stock opened at $76.79 on Wednesday. The stock has a 50-day simple moving average of $70.98 and a 200 day simple moving average of $71.20. AGCO has a fifty-two week low of $49.50 and a fifty-two week high of $80.64. The stock has a market capitalization of $5.88 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.09 and a beta of 0.98. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 0.47.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that AGCO will post 5.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. AGCO’s dividend payout ratio (DPR) is 16.45%.

In related news, Chairman Martin Richenhagen sold 45,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.14, for a total value of $3,471,300.00. Following the completion of the transaction, the chairman now owns 447,317 shares in the company, valued at approximately $34,506,033.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $70.52, for a total value of $705,200.00. Following the completion of the sale, the chief financial officer now directly owns 148,218 shares of the company’s stock, valued at $10,452,333.36. The disclosure for this sale can be found here. Insiders sold a total of 76,977 shares of company stock valued at $5,761,368 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan lifted its stake in AGCO by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,880 shares of the industrial products company’s stock worth $922,000 after acquiring an additional 130 shares in the last quarter. LPL Financial LLC raised its stake in shares of AGCO by 5.6% during the 2nd quarter. LPL Financial LLC now owns 3,064 shares of the industrial products company’s stock worth $238,000 after purchasing an additional 163 shares in the last quarter. Colony Group LLC raised its stake in shares of AGCO by 0.7% during the 2nd quarter. Colony Group LLC now owns 30,862 shares of the industrial products company’s stock worth $2,394,000 after purchasing an additional 200 shares in the last quarter. Advisor Group Inc. raised its stake in shares of AGCO by 15.8% during the 2nd quarter. Advisor Group Inc. now owns 1,648 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 225 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of AGCO by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock worth $6,508,000 after purchasing an additional 230 shares in the last quarter. 81.73% of the stock is owned by hedge funds and other institutional investors.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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