AGCO Corporation (NYSE:AGCO) had its target price increased by BMO Capital Markets from $70.00 to $75.00 in a report issued on Tuesday, August 1st. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.
Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of AGCO Corporation from a c+ rating to a b+ rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of AGCO Corporation from a hold rating to a buy rating and set a $68.00 price target on the stock in a report on Tuesday, April 11th. BidaskClub upgraded shares of AGCO Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a hold rating and issued a $64.00 price objective on shares of AGCO Corporation in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $61.00 price objective on shares of AGCO Corporation in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $64.80.
Shares of AGCO Corporation (NYSE:AGCO) opened at 66.61 on Tuesday. The company’s 50 day moving average price is $70.40 and its 200 day moving average price is $64.77. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 29.13 and a beta of 0.86. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, analysts expect that AGCO Corporation will post $3.05 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.14 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a yield of 0.84%. AGCO Corporation’s dividend payout ratio is presently 24.56%.
In other news, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the sale, the senior vice president now owns 38,877 shares of the company’s stock, valued at approximately $2,838,021. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert B. Crain sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. Insiders sold a total of 26,000 shares of company stock valued at $1,871,500 in the last ninety days. 16.60% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of AGCO. BlackRock Inc. raised its stake in AGCO Corporation by 2,706.4% in the first quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock worth $392,938,000 after buying an additional 6,296,716 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in AGCO Corporation during the first quarter worth approximately $104,317,000. FMR LLC raised its stake in AGCO Corporation by 23.6% in the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after buying an additional 306,505 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in AGCO Corporation by 138.0% in the first quarter. Canada Pension Plan Investment Board now owns 472,203 shares of the industrial products company’s stock worth $28,417,000 after buying an additional 273,800 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in AGCO Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after buying an additional 232,091 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.
About AGCO Corporation
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.
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