Truist Financial Increases AGCO (NYSE:AGCO) Price Target to $127.00

AGCO (NYSE:AGCO) had its price target lifted by Truist Financial from $118.00 to $127.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on AGCO. UBS Group decreased their target price on AGCO from $107.00 to $104.00 and set a neutral rating for the company in a research report on Wednesday, July 31st. Oppenheimer lowered their price objective on shares of AGCO from $133.00 to $132.00 and set an outperform rating on the stock in a research report on Monday, July 22nd. Raymond James initiated coverage on shares of AGCO in a research report on Friday, June 28th. They issued a market perform rating for the company. StockNews.com cut AGCO from a hold rating to a sell rating in a report on Thursday, August 1st. Finally, Citigroup started coverage on AGCO in a research note on Wednesday, June 26th. They issued a neutral rating and a $108.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AGCO presently has a consensus rating of Hold and a consensus price target of $117.80.

AGCO Trading Up 1.7 %

Shares of NYSE AGCO opened at $99.56 on Wednesday. The firm’s 50 day moving average price is $91.75 and its 200-day moving average price is $102.27. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. The company has a market cap of $7.43 billion, a PE ratio of 17.78, a P/E/G ratio of 0.91 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.90 by ($0.37). The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business’s revenue was down 15.1% compared to the same quarter last year. During the same period last year, the company posted $4.29 earnings per share. On average, equities research analysts expect that AGCO will post 8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lange Bob De acquired 1,420 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $87.91 per share, with a total value of $124,832.20. Following the transaction, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AGCO news, Director Michael C. Arnold purchased 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the purchase, the director now owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lange Bob De purchased 1,420 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the acquisition, the director now owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.60% of the company’s stock.

Institutional Trading of AGCO

Institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in AGCO by 34.9% in the 3rd quarter. Creative Planning now owns 9,655 shares of the industrial products company’s stock worth $945,000 after purchasing an additional 2,498 shares during the period. CX Institutional lifted its holdings in shares of AGCO by 33.1% in the third quarter. CX Institutional now owns 48,150 shares of the industrial products company’s stock worth $4,712,000 after buying an additional 11,971 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of AGCO by 9.5% during the third quarter. Wedge Capital Management L L P NC now owns 132,971 shares of the industrial products company’s stock worth $13,013,000 after acquiring an additional 11,587 shares during the last quarter. Inspire Investing LLC grew its stake in AGCO by 16.3% during the third quarter. Inspire Investing LLC now owns 4,181 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 587 shares in the last quarter. Finally, Capital Insight Partners LLC increased its holdings in AGCO by 4.0% in the 3rd quarter. Capital Insight Partners LLC now owns 4,577 shares of the industrial products company’s stock valued at $448,000 after acquiring an additional 176 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.