AGCO (NYSE:AGCO) Price Target Lowered to $123.00 at JPMorgan Chase & Co.

AGCO (NYSE:AGCO) had its price target reduced by JPMorgan Chase & Co. from $127.00 to $123.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts have also commented on AGCO. Truist Financial restated a “buy” rating and set a $123.00 price target (down previously from $142.00) on shares of AGCO in a research note on Monday, November 3rd. Barclays cut shares of AGCO from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $116.00 to $93.00 in a report on Friday. Wells Fargo & Company assumed coverage on shares of AGCO in a report on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 price target for the company. Zacks Research cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Oppenheimer increased their price objective on shares of AGCO from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $110.60.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $106.06 on Friday. The firm’s 50 day simple moving average is $106.31 and its 200-day simple moving average is $107.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 1.58. AGCO has a one year low of $73.79 and a one year high of $121.16. The firm has a market cap of $7.91 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.18.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.48 billion. AGCO had a return on equity of 9.36% and a net margin of 3.73%.AGCO’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, equities analysts predict that AGCO will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 14th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. AGCO’s payout ratio is presently 23.06%.

Insider Activity at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $104.28, for a total transaction of $26,070.00. Following the completion of the sale, the senior vice president owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This represents a 1.44% 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 hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in AGCO by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,985,474 shares of the industrial products company’s stock worth $646,648,000 after buying an additional 481,146 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AGCO by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,461,860 shares of the industrial products company’s stock worth $370,665,000 after acquiring an additional 61,383 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AGCO by 14.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,306,812 shares of the industrial products company’s stock valued at $306,112,000 after acquiring an additional 405,022 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of AGCO by 32.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,840,125 shares of the industrial products company’s stock valued at $304,092,000 after purchasing an additional 700,558 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in AGCO by 20.6% in the 3rd quarter. Invesco Ltd. now owns 2,086,933 shares of the industrial products company’s stock worth $223,448,000 after purchasing an additional 356,560 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Company Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.