AGCO’s (AGCO) “Buy” Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of AGCO (NYSE:AGCO) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $123.00 price objective on the industrial products company’s stock, down from their prior price objective of $142.00.

AGCO has been the topic of several other reports. Weiss Ratings restated a “hold (c-)” rating on shares of AGCO in a research report on Wednesday, October 8th. Barclays increased their price target on shares of AGCO from $110.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. UBS Group reiterated a “neutral” rating and issued a $119.00 price target (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $123.00 price target on shares of AGCO in a research report on Monday. Finally, Zacks Research downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.67.

AGCO Price Performance

Shares of NYSE:AGCO opened at $106.77 on Monday. The company has a 50-day simple moving average of $108.18 and a 200-day simple moving average of $105.60. AGCO has a one year low of $73.79 and a one year high of $121.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 1.73 and a beta of 1.23.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. AGCO had a net margin of 0.98% and a return on equity of 8.27%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, analysts predict that AGCO will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The company 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 dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. AGCO’s dividend payout ratio (DPR) is presently 23.06%.

AGCO announced that its board has authorized a share buyback plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AGCO. Teacher Retirement System of Texas bought a new position in shares of AGCO in the 1st quarter worth about $1,212,000. GAMMA Investing LLC lifted its position in AGCO by 66.9% in the 1st 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. Inspire Investing LLC lifted its position in AGCO by 64.0% in the 1st quarter. Inspire Investing LLC now owns 7,051 shares of the industrial products company’s stock valued at $653,000 after purchasing an additional 2,752 shares during the last quarter. Voya Investment Management LLC lifted its position in AGCO by 4.2% in the 1st quarter. Voya Investment Management LLC now owns 8,954 shares of the industrial products company’s stock valued at $829,000 after purchasing an additional 364 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AGCO by 14.0% in the 1st 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 purchasing an additional 405,022 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

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.