AGCO (NYSE:AGCO) Given New $115.00 Price Target at Citigroup

AGCO (NYSE:AGCO) had its price objective lowered by Citigroup from $120.00 to $115.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Truist Financial reissued a “buy” rating and set a $123.00 price target (down from $142.00) on shares of AGCO in a research note on Monday. Wall Street Zen raised AGCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research cut AGCO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their price objective on AGCO from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AGCO in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AGCO has a consensus rating of “Hold” and a consensus target price of $113.67.

AGCO Stock Up 2.0%

AGCO opened at $105.23 on Monday. The stock has a market cap of $7.85 billion, a PE ratio of 78.53, a P/E/G ratio of 1.73 and a beta of 1.23. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. AGCO has a 52 week low of $73.79 and a 52 week high of $121.16. The business’s fifty day simple moving average is $108.48 and its 200 day simple moving average is $105.42.

AGCO (NYSE:AGCO) last released its earnings results on Friday, October 31st. The industrial products company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.48 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, research analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be issued a $0.29 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.1%. AGCO’s payout ratio is 23.06%.

AGCO announced that its board has authorized a stock repurchase plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction on Monday, August 11th. The shares were sold at an average price of $109.40, for a total value of $1,094,000.00. Following the sale, the senior vice president owned 16,189 shares in the company, valued at $1,771,076.60. The trade was a 38.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 16.60% of the stock is currently owned by company insiders.

Institutional Trading of AGCO

Several large investors have recently added to or reduced their stakes in AGCO. GAMMA Investing LLC lifted its holdings in shares of AGCO by 66.9% during the first quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 364 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of AGCO in the 1st quarter worth about $1,212,000. Bank of New York Mellon Corp raised its position in shares of AGCO by 62.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,135,672 shares of the industrial products company’s stock worth $105,129,000 after purchasing an additional 436,237 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of AGCO by 9.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 99,951 shares of the industrial products company’s stock worth $9,252,000 after purchasing an additional 8,293 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of AGCO by 3.6% in the 1st quarter. M&T Bank Corp now owns 38,977 shares of the industrial products company’s stock worth $3,609,000 after purchasing an additional 1,356 shares during the last quarter. 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.