AGCO Co. (NYSE:AGCO) Receives $70.53 Consensus PT from Brokerages
AGCO Co. (NYSE:AGCO) has been given an average recommendation of “Hold” by the twenty ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $70.53.
Several research analysts have weighed in on AGCO shares. Deutsche Bank cut AGCO from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research report on Tuesday, June 30th. BofA Securities raised AGCO from an “underperform” rating to a “neutral” rating and set a $68.00 price objective on the stock in a research report on Wednesday, July 22nd. Melius raised AGCO from an “underweight” rating to a “neutral” rating in a research report on Friday, August 21st. Citigroup boosted their price objective on AGCO from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of AGCO in a research report on Monday, July 6th.
Shares of AGCO stock opened at $75.68 on Friday. The stock has a fifty day simple moving average of $71.28 and a 200 day simple moving average of $57.80. AGCO has a 12-month low of $35.33 and a 12-month high of $81.39. The company has a market capitalization of $5.67 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.18. The company has a current ratio of 1.48, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. AGCO’s dividend payout ratio (DPR) is 14.41%.
In related news, SVP Lucinda B. Smith sold 2,500 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $73.00, for a total transaction of $182,500.00. Also, SVP Lucinda B. Smith sold 2,546 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $72.50, for a total value of $184,585.00. Following the sale, the senior vice president now directly owns 35,017 shares in the company, valued at approximately $2,538,732.50. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock worth $1,088,685 in the last three months. 17.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC bought a new position in AGCO in the 2nd quarter worth about $343,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in AGCO by 7.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 30,028 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 2,124 shares during the last quarter. Principal Financial Group Inc. increased its stake in AGCO by 1.7% in the 2nd quarter. Principal Financial Group Inc. now owns 200,457 shares of the industrial products company’s stock worth $11,118,000 after acquiring an additional 3,299 shares during the last quarter. Quadrature Capital Ltd bought a new position in AGCO in the 2nd quarter worth about $332,000. Finally, Handelsbanken Fonder AB bought a new position in AGCO in the 2nd quarter worth about $549,000. Institutional investors and hedge funds own 79.01% of the company’s stock.
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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