AGCO (NYSE:AGCO) Price Target Cut to $110.00 by Analysts at Barclays

AGCO (NYSE:AGCO) had its price target trimmed by Barclays from $145.00 to $110.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on AGCO. Truist Financial decreased their price target on AGCO from $142.00 to $137.00 and set a buy rating for the company in a research note on Friday, May 3rd. Oppenheimer reduced their target price on AGCO from $145.00 to $133.00 and set an outperform rating on the stock in a report on Wednesday, June 12th. Raymond James assumed coverage on shares of AGCO in a report on Friday, June 28th. They set a market perform rating for the company. The Goldman Sachs Group decreased their price objective on shares of AGCO from $127.00 to $112.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AGCO from $135.00 to $130.00 and set an overweight rating for the company in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AGCO currently has an average rating of Hold and an average target price of $126.75.

AGCO Stock Down 0.2 %

NYSE:AGCO opened at $102.03 on Thursday. AGCO has a one year low of $92.75 and a one year high of $140.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. The company has a market cap of $7.61 billion, a PE ratio of 6.90, a P/E/G ratio of 0.66 and a beta of 1.27. The firm’s 50 day simple moving average is $102.98 and its 200 day simple moving average is $111.99.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. AGCO’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.51 earnings per share. On average, research analysts anticipate that AGCO will post 11.46 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. AGCO’s payout ratio is presently 7.85%.

Institutional Investors Weigh In On AGCO

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of AGCO by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in AGCO by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock worth $371,586,000 after acquiring an additional 18,209 shares in the last quarter. Massachusetts Financial Services Co. MA grew 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 acquiring an additional 1,155,440 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of AGCO by 1.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,012,681 shares of the industrial products company’s stock valued at $122,517,000 after acquiring an additional 17,690 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of AGCO by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock worth $87,794,000 after purchasing an additional 22,687 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

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.