AGCO (NYSE:AGCO) Price Target Cut to $123.00 by Analysts at Oppenheimer

AGCO (NYSE:AGCO) had its target price lowered by Oppenheimer from $124.00 to $123.00 in a report issued on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

AGCO has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of AGCO from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, September 2nd. The Goldman Sachs Group raised their target price on shares of AGCO from $91.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 27th. Zacks Research upgraded shares of AGCO from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 18th. UBS Group restated a “neutral” rating and set a $119.00 target price (up previously from $100.00) on shares of AGCO in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of AGCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.38.

AGCO Stock Performance

Shares of AGCO stock opened at $110.27 on Thursday. The stock has a market cap of $8.23 billion, a P/E ratio of 82.29, a P/E/G ratio of 1.72 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. The company has a fifty day moving average price of $110.71 and a two-hundred day moving average price of $101.22. AGCO has a one year low of $73.79 and a one year high of $121.16.

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

AGCO announced that its board has approved a stock repurchase program on Wednesday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 12.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.1%. AGCO’s dividend payout ratio (DPR) is currently 86.57%.

Insider Buying and Selling

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO 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 sale, the senior vice president directly owned 16,189 shares in the company, valued at $1,771,076.60. This trade represents a 38.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its position in shares of AGCO by 52.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 10,086 shares of the industrial products company’s stock worth $1,040,000 after purchasing an additional 3,483 shares during the period. State of Wyoming acquired a new position in shares of AGCO in the 2nd quarter worth approximately $447,000. FORA Capital LLC acquired a new position in shares of AGCO in the 2nd quarter worth approximately $397,000. Two Sigma Securities LLC acquired a new position in shares of AGCO in the 2nd quarter worth approximately $874,000. Finally, Tidal Investments LLC lifted its position in shares of AGCO by 14.9% in the 2nd quarter. Tidal Investments LLC now owns 16,074 shares of the industrial products company’s stock worth $1,658,000 after purchasing an additional 2,087 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.