Robert W. Baird Trims AGCO (NYSE:AGCO) Target Price to $129.00

AGCO (NYSE:AGCO) had its price target trimmed by Robert W. Baird from $139.00 to $129.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

AGCO has been the topic of a number of other reports. The Goldman Sachs Group cut their price target on shares of AGCO from $127.00 to $112.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Oppenheimer reduced their target price on shares of AGCO from $133.00 to $132.00 and set an outperform rating on the stock in a report on Monday, July 22nd. Barclays dropped their price target on shares of AGCO from $145.00 to $110.00 and set an equal weight rating for the company in a research note on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective on AGCO from $135.00 to $130.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Finally, Truist Financial lowered their target price on AGCO from $142.00 to $137.00 and set a buy rating for the company in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $121.20.

AGCO Price Performance

AGCO stock opened at $89.57 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 1.52. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 6.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.27. The company’s 50 day simple moving average is $100.24 and its 200-day simple moving average is $110.55. AGCO has a 1 year low of $88.12 and a 1 year high of $132.94.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the company earned $4.29 earnings per share. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, equities research analysts expect that AGCO will post 7.89 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Institutional Trading of AGCO

Several institutional investors have recently modified their holdings of AGCO. Vanguard Group Inc. raised its stake in 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 acquiring an additional 784,617 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of AGCO by 0.6% during 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 purchasing an additional 18,209 shares in the last quarter. Mirova US LLC lifted its holdings in shares of AGCO by 2.0% in the 2nd quarter. Mirova US LLC now owns 1,198,024 shares of the industrial products company’s stock valued at $117,263,000 after purchasing an additional 23,536 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of AGCO by 3,115.0% in the 4th 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 purchasing an additional 1,155,440 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in AGCO by 1.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,012,681 shares of the industrial products company’s stock worth $122,517,000 after buying an additional 17,690 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.