AGCO (NYSE:AGCO) Given New $130.00 Price Target at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price objective reduced by JPMorgan Chase & Co. from $135.00 to $130.00 in a research note issued to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. Oppenheimer cut their price objective on AGCO from $145.00 to $133.00 and set an outperform rating for the company in a report on Wednesday, June 12th. Truist Financial cut their price objective on AGCO from $142.00 to $137.00 and set a buy rating for the company in a report on Friday, May 3rd. Citigroup began coverage on AGCO in a report on Wednesday, June 26th. They issued a neutral rating and a $108.00 price objective for the company. Finally, Raymond James began coverage on AGCO in a research report on Friday. They set a market perform rating on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $132.00.

AGCO Stock Down 2.4 %

AGCO stock opened at $95.55 on Friday. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 6.46, a PEG ratio of 0.62 and a beta of 1.27. The stock has a fifty day simple moving average of $107.95 and a two-hundred day simple moving average of $114.30. AGCO has a 12 month low of $95.03 and a 12 month high of $140.46. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last posted its 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 business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.51 EPS. Equities analysts predict that AGCO will post 11.82 EPS for the current fiscal year.

AGCO Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a dividend yield of 1%. AGCO’s payout ratio is 7.85%.

Hedge Funds Weigh In On AGCO

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in shares of AGCO by 50.6% in the third quarter. Envestnet Asset Management Inc. now owns 26,315 shares of the industrial products company’s stock worth $3,113,000 after buying an additional 8,836 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of AGCO by 89.5% in the third quarter. Hsbc Holdings PLC now owns 11,727 shares of the industrial products company’s stock worth $1,396,000 after buying an additional 5,540 shares in the last quarter. LPL Financial LLC lifted its position in shares of AGCO by 11.6% in the third quarter. LPL Financial LLC now owns 28,747 shares of the industrial products company’s stock worth $3,394,000 after buying an additional 2,981 shares in the last quarter. Stifel Financial Corp lifted its position in shares of AGCO by 7.4% in the third quarter. Stifel Financial Corp now owns 40,906 shares of the industrial products company’s stock worth $4,838,000 after buying an additional 2,820 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its position in shares of AGCO by 16.1% in the third quarter. Natixis Advisors L.P. now owns 37,507 shares of the industrial products company’s stock worth $4,436,000 after buying an additional 5,207 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.