TheStreet upgraded shares of AGCO Corporation (NYSE:AGCO) from a c+ rating to a b+ rating in a report released on Thursday morning.

Several other equities analysts have also recently issued reports on the stock. Credit Suisse Group set a $60.00 price target on shares of AGCO Corporation and gave the company a hold rating in a research report on Wednesday, April 12th. Seaport Global Securities boosted their price target on shares of AGCO Corporation from $57.00 to $61.00 and gave the company a neutral rating in a research report on Monday, May 1st. Bank of America Corporation upgraded shares of AGCO Corporation from an underperform rating to a neutral rating in a research report on Monday, June 19th. BidaskClub upgraded shares of AGCO Corporation from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, William Blair upgraded shares of AGCO Corporation from a market perform rating to an outperform rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. AGCO Corporation presently has a consensus rating of Hold and a consensus target price of $63.73.

AGCO Corporation (NYSE AGCO) opened at 71.94 on Thursday. The company has a market cap of $5.72 billion, a PE ratio of 31.46 and a beta of 0.85. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97. The company has a 50-day moving average of $68.87 and a 200 day moving average of $63.86.

AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. AGCO Corporation’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that AGCO Corporation will post $2.94 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.78%. AGCO Corporation’s dividend payout ratio is presently 24.56%.

In related news, SVP Lucinda B. Smith sold 5,000 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $64.00, for a total transaction of $320,000.00. Following the transaction, the senior vice president now owns 40,977 shares in the company, valued at $2,622,528. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $63.91, for a total transaction of $130,184.67. Following the transaction, the vice president now owns 41,717 shares in the company, valued at approximately $2,666,133.47. The disclosure for this sale can be found here. Corporate insiders own 16.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AGCO. Daiwa Securities Group Inc. increased its position 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 worth $132,000 after buying an additional 400 shares during the period. PNC Financial Services Group Inc. increased its position 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 worth $203,000 after buying an additional 106 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after buying an additional 1,300 shares during the period. Eqis Capital Management Inc. bought a new position in shares of AGCO Corporation during the first quarter worth $246,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of AGCO Corporation during the first quarter worth $246,000. Institutional investors own 84.20% of the company’s stock.

AGCO Corporation Company Profile

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.

Analyst Recommendations for AGCO Corporation (NYSE:AGCO)

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