Oppenheimer Raises AGCO (NYSE:AGCO) Price Target to $154.00

AGCO (NYSE:AGCO) had its target price increased by Oppenheimer from $153.00 to $154.00 in a report published on Tuesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

AGCO has been the topic of a number of other reports. Stifel Nicolaus cut their price target on AGCO from $160.00 to $153.00 and set a buy rating on the stock in a research note on Tuesday, December 19th. JPMorgan Chase & Co. lifted their price objective on AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, April 12th. StockNews.com lowered AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Finally, Truist Financial assumed coverage on AGCO in a research note on Thursday, March 14th. They issued a buy rating and a $142.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $150.50.

AGCO Stock Performance

Shares of AGCO stock opened at $117.07 on Tuesday. The business’s 50-day moving average price is $115.57 and its 200-day moving average price is $117.13. AGCO has a 12 month low of $105.77 and a 12 month high of $140.46. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.69 and a beta of 1.31. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the business posted $4.47 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts forecast that AGCO will post 13.03 EPS for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, February 14th. AGCO’s dividend payout ratio (DPR) is presently 7.42%.

Hedge Funds Weigh In On AGCO

Several institutional investors have recently added to or reduced their stakes in AGCO. Raymond James Financial Services Advisors Inc. increased its holdings in shares of AGCO by 21.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 522 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of AGCO during the first quarter valued at approximately $306,000. Acadian Asset Management LLC increased its holdings in shares of AGCO by 118.1% during the first quarter. Acadian Asset Management LLC now owns 1,758 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 952 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of AGCO by 10.4% during the first quarter. Great West Life Assurance Co. Can now owns 36,347 shares of the industrial products company’s stock valued at $5,469,000 after acquiring an additional 3,425 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of AGCO by 3.6% during the first quarter. Raymond James Trust N.A. now owns 3,743 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 129 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Company Profile

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.