AGCO (NYSE:AGCO) Hits New 12-Month Low – Here’s What Happened

AGCO Co. (NYSE:AGCO) shares hit a new 52-week low on Thursday . The company traded as low as $83.00 and last traded at $83.75, with a volume of 457350 shares changing hands. The stock had previously closed at $92.52.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AGCO. Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Truist Financial raised their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Oppenheimer upped their target price on AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Citigroup raised their price target on AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, March 17th. Finally, Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.60.

AGCO Stock Performance

The firm has a fifty day moving average of $96.97 and a 200 day moving average of $96.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -13.96, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, sell-side analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, February 14th. AGCO’s payout ratio is currently -20.39%.

Hedge Funds Weigh In On AGCO

Large investors have recently bought and sold shares of the business. CIBC Asset Management Inc raised its stake in shares of AGCO by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 110 shares during the period. Inspire Investing LLC raised its position in AGCO by 2.8% in the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock valued at $402,000 after purchasing an additional 118 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in AGCO by 2.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 144 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of AGCO by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company’s stock valued at $612,000 after buying an additional 145 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of AGCO by 0.8% in the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock valued at $1,721,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds 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.