AGCO Co. (AGCO) Raises Dividend to $0.15 Per Share

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, January 25th, Zacks reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.15 per share by the industrial products company on Thursday, March 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Wednesday, February 14th. This is an increase from AGCO’s previous quarterly dividend of $0.14.

AGCO has increased its dividend by an average of 8.4% annually over the last three years and has increased its dividend every year for the last 4 years. AGCO has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AGCO to earn $4.53 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.4%.

Shares of AGCO (NYSE:AGCO) traded up $0.16 during midday trading on Friday, hitting $67.86. The stock had a trading volume of 324,099 shares, compared to its average volume of 789,674. AGCO has a twelve month low of $58.00 and a twelve month high of $75.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.37 and a quick ratio of 0.70. The firm has a market capitalization of $5,504.81, a PE ratio of 29.18, a PEG ratio of 1.41 and a beta of 0.77.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.01). AGCO had a net margin of 2.24% and a return on equity of 8.04%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. analysts expect that AGCO will post 3.73 EPS for the current year.

A number of equities research analysts have recently weighed in on AGCO shares. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $66.00 price objective on shares of AGCO in a research note on Thursday, October 19th. UBS Group set a $72.00 target price on AGCO and gave the company a “hold” rating in a report on Saturday, October 21st. BidaskClub lowered AGCO from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Stifel Nicolaus reiterated a “hold” rating and issued a $73.00 target price on shares of AGCO in a report on Thursday, December 21st. Finally, Seaport Global Securities reiterated a “hold” rating on shares of AGCO in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $73.07.

In other AGCO news, SVP Robert B. Crain sold 7,000 shares of AGCO stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $70.72, for a total transaction of $495,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.60% of the stock is owned by insiders.

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About AGCO

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.

Dividend History for AGCO (NYSE:AGCO)

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