Deutsche Bank AG reiterated their buy rating on shares of AGCO Corporation (NYSE:AGCO) in a report released on Thursday morning. They currently have a $90.00 target price on the industrial products company’s stock, up from their previous target price of $88.00.
Several other research analysts have also weighed in on the company. William Blair raised AGCO Corporation from a market perform rating to an outperform rating in a research report on Tuesday, July 11th. BidaskClub raised AGCO Corporation from a hold rating to a buy rating in a research report on Tuesday, June 13th. Bank of America Corporation raised AGCO Corporation from an underperform rating to a neutral rating in a research report on Monday, June 19th. Jefferies Group LLC reissued a hold rating and issued a $75.00 price objective on shares of AGCO Corporation in a research report on Thursday, August 31st. Finally, BMO Capital Markets lifted their price objective on AGCO Corporation from $55.00 to $70.00 and gave the stock a market perform rating in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. AGCO Corporation currently has a consensus rating of Hold and an average price target of $68.14.
AGCO Corporation (NYSE:AGCO) traded down 0.86% during midday trading on Thursday, hitting $72.74. The stock had a trading volume of 184,856 shares. The company has a market capitalization of $5.79 billion, a PE ratio of 31.81 and a beta of 0.88. AGCO Corporation has a 52 week low of $46.75 and a 52 week high of $73.97. The company’s 50-day moving average price is $69.21 and its 200 day moving average price is $65.61.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company posted $1.25 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts expect that AGCO Corporation will post $3.06 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.76%. AGCO Corporation’s payout ratio is presently 24.56%.
In related news, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the sale, the senior vice president now owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hans Bernd Veltmaat sold 750 shares of AGCO Corporation stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total transaction of $49,890.00. Following the completion of the sale, the senior vice president now directly owns 68,552 shares in the company, valued at approximately $4,560,079.04. The disclosure for this sale can be found here. Insiders sold a total of 26,750 shares of company stock worth $1,921,390 in the last 90 days. Company insiders own 16.60% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. raised its holdings in AGCO Corporation by 22.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 400 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of AGCO Corporation in the second quarter worth $165,000. PNC Financial Services Group Inc. increased its holdings in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 106 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 1,300 shares during the period. Finally, Advisor Partners LLC bought a new position in shares of AGCO Corporation in the second quarter worth $212,000. 80.67% of the stock is currently owned by institutional investors and hedge funds.
AGCO Corporation Company Profile
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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