AGCO (NYSE:AGCO) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of AGCO (NYSE:AGCO) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $108.00 price objective on the industrial products company’s stock.

Several other equities research analysts also recently commented on the stock. Oppenheimer reduced their price target on shares of AGCO from $145.00 to $133.00 and set an outperform rating for the company in a research report on Wednesday, June 12th. Truist Financial cut their target price on shares of AGCO from $142.00 to $137.00 and set a buy rating for the company in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of AGCO from $150.00 to $135.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $132.00.

AGCO Stock Down 1.0 %

Shares of NYSE:AGCO opened at $97.88 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The company has a market cap of $7.30 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 0.61 and a beta of 1.31. AGCO has a 52 week low of $96.60 and a 52 week high of $140.46. The firm has a 50 day simple moving average of $108.42 and a 200 day simple moving average of $114.51.

AGCO (NYSE:AGCO) last issued 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. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.51 EPS. As a group, research analysts expect that AGCO will post 12.18 earnings per share for the current year.

AGCO Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a dividend yield of 1%. AGCO’s dividend payout ratio (DPR) is 7.85%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in AGCO by 50.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 26,315 shares of the industrial products company’s stock valued at $3,113,000 after buying an additional 8,836 shares during the last quarter. Invesco Ltd. grew its stake in AGCO by 53.1% in the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock valued at $44,333,000 after buying an additional 130,051 shares during the last quarter. Hsbc Holdings PLC grew its stake in AGCO by 89.5% in the 3rd quarter. Hsbc Holdings PLC now owns 11,727 shares of the industrial products company’s stock valued at $1,396,000 after buying an additional 5,540 shares during the last quarter. LPL Financial LLC grew its stake in AGCO by 11.6% in the 3rd quarter. LPL Financial LLC now owns 28,747 shares of the industrial products company’s stock valued at $3,394,000 after buying an additional 2,981 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in AGCO by 7.4% in the 3rd quarter. Stifel Financial Corp now owns 40,906 shares of the industrial products company’s stock valued at $4,838,000 after buying an additional 2,820 shares during the last quarter. 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.