AGCO (NYSE:AGCO) Trading Up 5.9% – What’s Next?

AGCO Co. (NYSE:AGCO)’s stock price shot up 5.9% during trading on Monday . The stock traded as high as $96.45 and last traded at $96.22. 446,090 shares traded hands during trading, a decline of 35% from the average session volume of 688,753 shares. The stock had previously closed at $90.85.

Analysts Set New Price Targets

Several research firms recently issued reports on AGCO. Truist Financial upped their target price on AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. The Goldman Sachs Group cut their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Citigroup decreased their target price on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Oppenheimer decreased their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.20.

AGCO Stock Performance

The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 0.56 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The firm’s 50 day moving average is $95.09 and its 200-day moving average is $94.87.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $3.97 earnings per share. The company’s revenue was down 24.8% compared to the same quarter last year. Analysts forecast that AGCO Co. will post 7.36 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in AGCO in the 3rd quarter worth $29,000. Venturi Wealth Management LLC grew its position in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares during the period. Farther Finance Advisors LLC increased its stake in shares of AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares in the last quarter. LRI Investments LLC raised its position in shares of AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 170 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after buying an additional 117 shares in 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.