AGCO Corporation (AGCO) Upgraded by BidaskClub to “Hold”
BidaskClub upgraded shares of AGCO Corporation (NYSE:AGCO) from a sell rating to a hold rating in a research note released on Monday.
Several other equities research analysts have also recently weighed in on the stock. William Blair raised shares of AGCO Corporation from a market perform rating to an outperform rating in a research report on Tuesday, July 11th. Bank of America Corporation raised shares of AGCO Corporation from an underperform rating to a neutral rating in a research report on Monday, June 19th. Jefferies Group LLC reaffirmed a hold rating and set a $75.00 price objective on shares of AGCO Corporation in a research report on Thursday, August 31st. BMO Capital Markets upped their price objective on shares of AGCO Corporation from $55.00 to $70.00 and gave the stock a market perform rating in a research report on Tuesday, May 30th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $64.00 price objective on shares of AGCO Corporation in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $66.57.
AGCO Corporation (AGCO) opened at 71.74 on Monday. The company has a market capitalization of $5.71 billion, a P/E ratio of 31.37 and a beta of 0.88. The company’s 50-day moving average is $69.18 and its 200 day moving average is $65.52. AGCO Corporation has a one year low of $46.75 and a one year high of $73.97.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. AGCO Corporation’s revenue was up 8.5% compared to the same quarter last year. Analysts predict that AGCO Corporation will post $3.06 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were issued a $0.14 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.78%. AGCO Corporation’s dividend payout ratio (DPR) is currently 24.56%.
In other news, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the transaction, the senior vice president now owns 38,877 shares of the company’s stock, valued at $2,838,021. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the transaction, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at approximately $4,560,079.04. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock valued at $1,921,390 in the last three months. Company insiders own 16.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in shares of AGCO Corporation by 22.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock valued at $132,000 after buying an additional 400 shares during the period. BlueMountain Capital Management LLC acquired a new position in shares of AGCO Corporation in the second quarter valued at approximately $165,000. Advisor Partners LLC acquired a new position in shares of AGCO Corporation in the second quarter valued at approximately $212,000. PNC Financial Services Group Inc. increased its stake in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after buying an additional 106 shares during the period. Finally, Numeric Investors LLC acquired a new position in shares of AGCO Corporation in the second quarter valued at approximately $229,000. 80.67% of the stock is owned by institutional investors.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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