AGCO (NYSE:AGCO) Receives New Coverage from Analysts at Raymond James

Raymond James started coverage on shares of AGCO (NYSE:AGCO) in a report published on Friday, MarketBeat reports. The firm issued a market perform rating on the industrial products company’s stock.

AGCO has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of AGCO from $150.00 to $135.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Oppenheimer decreased their price objective on shares of AGCO from $145.00 to $133.00 and set an outperform rating on the stock in a research report on Wednesday, June 12th. Citigroup assumed coverage on shares of AGCO in a research report on Wednesday, June 26th. They issued a neutral rating and a $108.00 price objective on the stock. Finally, Truist Financial decreased their price objective on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $132.00.

AGCO Stock Down 2.4 %

AGCO opened at $95.55 on Friday. The company has a 50 day moving average of $107.95 and a 200 day moving average of $114.30. The company has a market cap of $7.13 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. AGCO has a 12 month low of $95.03 and a 12 month high of $140.46. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the firm earned $3.51 EPS. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, sell-side analysts expect that AGCO will post 11.82 EPS for the current year.

AGCO Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.29 per share. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Tuesday, May 14th. AGCO’s payout ratio is 7.85%.

Institutional Investors Weigh In On AGCO

A number of large investors have recently modified their holdings of AGCO. Rakuten Securities Inc. bought a new stake in AGCO during the fourth quarter worth about $26,000. FinTrust Capital Advisors LLC boosted its stake in AGCO by 121.9% during the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 117 shares in the last quarter. Manchester Capital Management LLC boosted its stake in AGCO by 93.2% during the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC bought a new stake in AGCO during the first quarter worth about $30,000. Finally, Allworth Financial LP boosted its stake in AGCO by 72.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Company Profile

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.