AGCO (NYSE:AGCO) Price Target Lowered to $135.00 at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price objective cut by JPMorgan Chase & Co. from $137.00 to $135.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research analysts have also weighed in on AGCO. Oppenheimer upped their target price on shares of AGCO from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. UBS Group restated a “neutral” rating and set a $119.00 target price (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. The Goldman Sachs Group increased their price target on shares of AGCO from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. Morgan Stanley increased their price target on shares of AGCO from $75.00 to $84.00 and gave the company an “underweight” rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of AGCO from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $109.38.

AGCO Trading Down 1.5%

Shares of AGCO stock opened at $106.59 on Tuesday. AGCO has a 52-week low of $73.79 and a 52-week high of $121.16. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The company’s 50-day simple moving average is $110.23 and its 200-day simple moving average is $100.31. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 79.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the business posted $2.53 earnings per share. The business’s revenue was down 18.8% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. As a group, equities research analysts anticipate that AGCO will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.1%. AGCO’s dividend payout ratio is presently 86.57%.

AGCO declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the transaction, the senior vice president owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On AGCO

A number of large investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft raised its stake in AGCO by 3.1% during the second quarter. Baader Bank Aktiengesellschaft now owns 3,794 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 113 shares during the period. Quantum Portfolio Management LLC raised its stake in AGCO by 5.5% during the second quarter. Quantum Portfolio Management LLC now owns 2,495 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 129 shares during the period. SummerHaven Investment Management LLC raised its stake in AGCO by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 138 shares during the period. Jones Financial Companies Lllp raised its stake in AGCO by 29.7% during the first quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 149 shares during the period. Finally, ProShare Advisors LLC raised its stake in AGCO by 4.4% during the fourth quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

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.