AGCO (NYSE:AGCO) Hits New 12-Month High – What’s Next?

AGCO Corporation (NYSE:AGCO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $121.23 and last traded at $121.5630, with a volume of 139186 shares traded. The stock had previously closed at $116.54.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company assumed coverage on AGCO in a research note on Thursday, November 13th. They set an “equal weight” rating and a $114.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of AGCO in a research note on Monday, December 22nd. Oppenheimer increased their target price on shares of AGCO from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Truist Financial set a $134.00 price target on shares of AGCO in a research report on Wednesday, January 14th. Finally, Barclays cut shares of AGCO from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $116.00 to $93.00 in a report on Friday, December 19th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.80.

AGCO Stock Performance

The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $108.70 and its two-hundred day moving average price is $108.85. The company has a market cap of $9.05 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 10.39 and a beta of 1.19.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be given a $0.29 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.16 annualized dividend and a yield of 1.0%. AGCO’s payout ratio is 23.06%.

Insider Activity at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $104.28, for a total transaction of $26,070.00. Following the completion of the sale, the senior vice president owned 17,130 shares in the company, valued at approximately $1,786,316.40. This represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On AGCO

Several hedge funds have recently modified their holdings of AGCO. Cullen Frost Bankers Inc. boosted its position in shares of AGCO by 1,721.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 241 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in AGCO during the third quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of AGCO by 951.9% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock worth $29,000 after buying an additional 257 shares during the period. SJS Investment Consulting Inc. boosted its holdings in shares of AGCO by 3,725.0% in the third quarter. SJS Investment Consulting Inc. now owns 306 shares of the industrial products company’s stock worth $33,000 after buying an additional 298 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of AGCO in the third quarter worth approximately $33,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

About AGCO

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.