AGCO Co. (NYSE:AGCO) Receives Consensus Rating of “Buy” from Brokerages

AGCO Co. (NYSE:AGCO) has earned an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $141.83.

AGCO has been the subject of a number of recent research reports. Truist Financial dropped their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Oppenheimer dropped their price objective on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. cut their target price on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday.

AGCO Trading Up 3.3 %

Shares of AGCO opened at $115.49 on Tuesday. The stock has a fifty day moving average price of $116.77 and a two-hundred day moving average price of $116.88. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 0.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. AGCO has a 52-week low of $105.77 and a 52-week high of $140.46.

AGCO (NYSE:AGCO) last released its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.51 earnings per share. Analysts predict that AGCO will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in AGCO by 3,115.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock valued at $144,785,000 after buying an additional 1,155,440 shares during the period. Pacer Advisors Inc. raised its stake in AGCO by 7,297.1% in the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after acquiring an additional 713,142 shares during the period. Norges Bank bought a new position in AGCO during the fourth quarter worth $83,733,000. Victory Capital Management Inc. increased its holdings 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 last quarter. Finally, Royal London Asset Management Ltd. bought a new position in shares of AGCO in the third quarter valued at about $38,690,000. 78.80% of the stock is currently owned by institutional investors.

About AGCO

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.