AGCO (NYSE:AGCO) Price Target Raised to $113.00

AGCO (NYSE:AGCO) had its target price raised by Morgan Stanley from $99.00 to $113.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

Several other brokerages have also weighed in on AGCO. Barclays lowered their price objective on AGCO from $105.00 to $97.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Weiss Ratings downgraded AGCO from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Friday, October 30th. Robert W. Baird raised AGCO from a “neutral” rating to an “outperform” rating and upped their price target for the company from $120.00 to $150.00 in a research note on Monday, August 31st. Oppenheimer reaffirmed an “outperform” rating on shares of AGCO in a research note on Friday, October 30th. Finally, Citigroup lowered their price target on AGCO from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, AGCO presently has a consensus rating of “Hold” and an average target price of $123.67.

AGCO Trading Up 0.0%

AGCO stock traded up $0.04 during trading on Wednesday, reaching $110.26. 510,432 shares of the stock were exchanged, compared to its average volume of 916,292. The company has a current ratio of 1.32, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $114.20 and a 200-day moving average price of $116.29. AGCO has a 1 year low of $98.22 and a 1 year high of $143.78. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 0.87 and a beta of 1.12.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.18. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.32 billion. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.35 EPS. On average, research analysts predict that AGCO will post 5.49 earnings per share for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. AGCO’s payout ratio is presently 30.85%.

Insider Transactions at AGCO

In other news, SVP Ivory Harris sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $125.30, for a total transaction of $200,480.00. Following the completion of the transaction, the senior vice president directly owned 14,454 shares in the company, valued at $1,811,086.20. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kelvin Bennett sold 1,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $132.89, for a total value of $132,890.00. Following the transaction, the senior vice president owned 14,047 shares of the company’s stock, valued at approximately $1,866,705.83. This represents a 6.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,204 shares of company stock valued at $671,239 over the last three months. 0.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AGCO

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in AGCO by 5.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,963 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 94 shares in the last quarter. State of Wyoming lifted its position in shares of AGCO by 8.6% during the third quarter. State of Wyoming now owns 1,622 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of AGCO by 36.0% during the first quarter. EverSource Wealth Advisors LLC now owns 521 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of AGCO by 1.2% during the first quarter. Cetera Investment Advisers now owns 13,000 shares of the industrial products company’s stock worth $1,506,000 after purchasing an additional 155 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of AGCO by 234.8% in the third quarter. Fortitude Family Office LLC now owns 231 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Company Profile

AGCO Corporation (NYSE: AGCO) is a global manufacturer and distributor of agricultural equipment, technologies and related services. The company serves farmers, agricultural contractors and equipment dealers with products designed for planting, harvesting, crop protection, hay and forage production, and grain handling.

AGCO’s product portfolio includes tractors, combines, planters, seeding equipment, sprayers, hay and forage machinery, grain storage and handling systems, replacement parts, and precision agriculture solutions.