Piper Jaffray Companies set a $68.00 price target on AGCO Corporation (NYSE:AGCO) in a research report sent to investors on Wednesday, November 1st. The brokerage currently has a hold rating on the industrial products company’s stock.
Several other equities research analysts have also issued reports on the stock. Deutsche Bank AG reaffirmed a buy rating and issued a $90.00 price objective (up previously from $88.00) on shares of AGCO Corporation in a research note on Thursday, September 21st. William Blair raised shares of AGCO Corporation from a market perform rating to an outperform rating in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a hold rating and issued a $75.00 target price on shares of AGCO Corporation in a report on Thursday, August 31st. BidaskClub upgraded shares of AGCO Corporation from a buy rating to a strong-buy rating in a report on Wednesday, July 19th. Finally, UBS AG set a $72.00 target price on shares of AGCO Corporation and gave the stock a hold rating in a report on Saturday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. AGCO Corporation has a consensus rating of Hold and an average price target of $69.07.
Shares of AGCO Corporation (AGCO) opened at $67.97 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.63. AGCO Corporation has a 52 week low of $51.29 and a 52 week high of $75.58. The stock has a market cap of $5,406.97, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.71 and a beta of 0.82.
AGCO Corporation (NYSE:AGCO) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.07. AGCO Corporation had a net margin of 2.59% and a return on equity of 7.50%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business earned $0.51 EPS. AGCO Corporation’s quarterly revenue was up 12.8% compared to the same quarter last year. research analysts forecast that AGCO Corporation will post 3.02 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 0.82%. AGCO Corporation’s dividend payout ratio (DPR) is presently 22.05%.
In other news, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total transaction of $49,890.00. Following the transaction, the senior vice president now directly owns 68,552 shares in the company, valued at $4,560,079.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of AGCO. Victory Capital Management Inc. raised its stake in shares of AGCO Corporation by 50.0% during the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock worth $175,222,000 after buying an additional 866,708 shares during the last quarter. FMR LLC raised its stake in shares of AGCO Corporation by 23.6% during 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 during the last quarter. Teacher Retirement System of Texas raised its stake in shares of AGCO Corporation by 262.8% during the third quarter. Teacher Retirement System of Texas now owns 364,230 shares of the industrial products company’s stock worth $26,869,000 after buying an additional 263,831 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in AGCO Corporation in the third quarter valued at approximately $17,343,000. Finally, JPMorgan Chase & Co. increased its stake in AGCO Corporation by 44.3% in the third quarter. JPMorgan Chase & Co. now owns 750,005 shares of the industrial products company’s stock valued at $55,109,000 after purchasing an additional 230,409 shares in the last quarter. 80.88% of the stock is owned by institutional investors and hedge funds.
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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