AGCO (NYSE:AGCO) Given New $145.00 Price Target at Oppenheimer

AGCO (NYSE:AGCO) had its target price trimmed by Oppenheimer from $154.00 to $145.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also recently weighed in on AGCO. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $145.00 to $150.00 and gave the company an overweight rating in a research report on Friday, April 12th. StockNews.com lowered AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Finally, Truist Financial cut their target price on AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, AGCO has an average rating of Moderate Buy and a consensus price target of $141.83.

AGCO Price Performance

Shares of NYSE AGCO opened at $111.79 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.67. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 0.69 and a beta of 1.32. The business has a 50-day moving average of $116.61 and a 200-day moving average of $116.90.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the business earned $3.51 EPS. AGCO’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities analysts anticipate that AGCO will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio is currently 7.85%.

Institutional Trading of AGCO

A number of institutional investors and hedge funds have recently modified their holdings of AGCO. Rakuten Securities Inc. bought a new stake in shares of AGCO in the 4th quarter worth approximately $26,000. FinTrust Capital Advisors LLC lifted its stake in AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares during the last quarter. Legacy Financial Group LLC bought a new position in shares of AGCO during the third quarter worth about $27,000. Allworth Financial LP increased its holdings in shares of AGCO by 72.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 120 shares during the period. Finally, BluePath Capital Management LLC bought a new stake in AGCO in the 3rd quarter valued at about $35,000. 78.80% of the stock is owned by institutional investors and hedge funds.

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.