AGCO Corporation (AGCO) Given Average Rating of “Hold” by Analysts
AGCO Corporation (NYSE:AGCO) has earned an average rating of “Hold” from the twenty analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $68.14.
Several brokerages have recently weighed in on AGCO. Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 target price on shares of AGCO Corporation in a research note on Thursday, August 31st. William Blair raised shares of AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. Bank of America Corporation raised shares of AGCO Corporation from an “underperform” rating to a “neutral” rating in a research note on Monday, June 19th. BidaskClub lowered shares of AGCO Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $90.00 price target (up previously from $88.00) on shares of AGCO Corporation in a report on Thursday, September 21st.
Shares of AGCO Corporation (NYSE AGCO) traded down 0.15% during mid-day trading on Wednesday, reaching $75.23. 731,183 shares of the company’s stock traded hands. The company has a market cap of $5.98 billion, a P/E ratio of 32.89 and a beta of 0.86. The company’s 50 day moving average is $69.83 and its 200 day moving average is $66.58. AGCO Corporation has a 12-month low of $48.78 and a 12-month high of $75.53.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. AGCO Corporation’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts predict that AGCO Corporation will post $3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, August 11th. This represents a $0.56 annualized dividend and a yield of 0.74%. AGCO Corporation’s dividend payout ratio is presently 24.56%.
In other AGCO Corporation news, SVP Lucinda B. Smith sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the sale, the senior vice president now directly owns 38,877 shares of the company’s stock, valued at approximately $2,838,021. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert B. Crain sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,750 shares of company stock valued at $1,921,390. 16.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of AGCO Corporation by 2,706.4% during the 1st quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock valued at $392,938,000 after acquiring an additional 6,296,716 shares during the last quarter. Victory Capital Management Inc. increased its position in AGCO Corporation by 50.0% during the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock worth $175,222,000 after purchasing an additional 866,708 shares during the last quarter. FMR LLC increased its position in AGCO Corporation by 23.6% during the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after purchasing an additional 306,505 shares during the last quarter. Vanguard Group Inc. increased its position in AGCO Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after purchasing an additional 232,091 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in AGCO Corporation by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock worth $47,140,000 after purchasing an additional 227,300 shares during the last quarter. Institutional investors and hedge funds own 80.73% of the company’s stock.
AGCO Corporation Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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