Truist Financial Issues Positive Forecast for AGCO (NYSE:AGCO) Stock Price

AGCO (NYSE:AGCO) had its target price increased by Truist Financial from $109.00 to $118.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Citigroup reduced their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley initiated coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $107.40.

AGCO Price Performance

Shares of NYSE:AGCO opened at $100.00 on Thursday. The business has a 50 day moving average price of $95.27 and a 200 day moving average price of $94.92. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 0.90 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company earned $3.97 EPS. AGCO’s revenue for the quarter was down 24.8% compared to the same quarter last year. Research analysts predict that AGCO will post 7.34 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. AGCO’s dividend payout ratio is 51.33%.

Institutional Investors Weigh In On AGCO

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in AGCO during the 3rd quarter valued at $29,000. UMB Bank n.a. increased its holdings in AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after buying an additional 139 shares during the period. Finally, LRI Investments LLC increased its stake in shares of AGCO by 50.0% in the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after buying an additional 170 shares during the period. 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.