AGCO (NYSE:AGCO) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of AGCO (NYSE:AGCO) from an overweight rating to a neutral rating in a research report report published on Friday, Briefing.com Automated Import reports. The firm currently has $82.00 price target on the industrial products company’s stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also recently weighed in on the company. Citigroup dropped their price objective on AGCO from $80.00 to $79.00 and set a neutral rating for the company in a report on Tuesday, October 15th. Stifel Nicolaus upgraded AGCO from a hold rating to a buy rating and increased their price objective for the stock from $79.00 to $84.00 in a report on Friday, September 6th. BMO Capital Markets upgraded AGCO from a market perform rating to an outperform rating and increased their price objective for the stock from $80.00 to $100.00 in a report on Thursday. UBS Group dropped their price objective on AGCO from $81.00 to $79.00 and set a neutral rating for the company in a report on Tuesday, October 8th. Finally, Royal Bank of Canada set a $88.00 price objective on AGCO and gave the stock a buy rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $80.87.

AGCO stock traded down $0.72 during trading on Friday, hitting $79.41. 377,776 shares of the company traded hands, compared to its average volume of 585,618. The firm has a market capitalization of $6.05 billion, a PE ratio of 20.41, a P/E/G ratio of 1.15 and a beta of 0.98. AGCO has a 1 year low of $51.48 and a 1 year high of $81.39. The company has a 50-day moving average of $75.69 and a 200-day moving average of $73.24. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.31.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. AGCO had a return on equity of 12.26% and a net margin of 3.42%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the business posted $0.91 EPS. AGCO’s quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts expect that AGCO will post 5.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 14th. AGCO’s payout ratio is presently 16.45%.

In other news, VP Gary L. Collar sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $77.76, for a total value of $388,800.00. Following the completion of the transaction, the vice president now owns 78,807 shares in the company, valued at approximately $6,128,032.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $79.62, for a total value of $796,200.00. Following the completion of the transaction, the chief financial officer now owns 128,218 shares of the company’s stock, valued at approximately $10,208,717.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,000 shares of company stock valued at $2,612,600. 17.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in AGCO by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,126,409 shares of the industrial products company’s stock valued at $475,226,000 after buying an additional 246,730 shares in the last quarter. BlackRock Inc. increased its position in AGCO by 3.1% during the 2nd quarter. BlackRock Inc. now owns 6,076,006 shares of the industrial products company’s stock valued at $471,315,000 after buying an additional 181,070 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in AGCO by 22.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,909,088 shares of the industrial products company’s stock valued at $295,918,000 after buying an additional 726,069 shares in the last quarter. Victory Capital Management Inc. increased its position in AGCO by 5.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,114,857 shares of the industrial products company’s stock valued at $241,619,000 after buying an additional 158,274 shares in the last quarter. Finally, LSV Asset Management increased its position in AGCO by 0.9% during the 2nd quarter. LSV Asset Management now owns 2,743,010 shares of the industrial products company’s stock valued at $212,775,000 after buying an additional 25,600 shares in the last quarter. 82.88% of the stock is owned by institutional investors.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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