Piper Jaffray Companies set a $66.00 target price on AGCO Corporation (NYSE:AGCO) in a report published on Wednesday morning. The brokerage currently has a hold rating on the industrial products company’s stock.
A number of other equities research analysts have also recently commented on the company. Credit Suisse Group set a $60.00 target price on AGCO Corporation and gave the stock a hold rating in a research note on Sunday, April 30th. J P Morgan Chase & Co upgraded AGCO Corporation from an underweight rating to a neutral rating and lifted their target price for the stock from $47.00 to $60.00 in a research note on Monday, May 1st. UBS AG reiterated a sell rating and set a $52.00 target price (up from $38.00) on shares of AGCO Corporation in a research note on Friday, May 5th. Royal Bank Of Canada reiterated a hold rating and set a $64.00 target price on shares of AGCO Corporation in a research note on Tuesday, June 6th. Finally, Seaport Global Securities lifted their target price on AGCO Corporation from $57.00 to $61.00 and gave the stock a neutral rating in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $64.80.
AGCO Corporation (NYSE:AGCO) traded down 1.55% during mid-day trading on Wednesday, reaching $68.82. 572,917 shares of the company’s stock traded hands. The stock has a market cap of $5.47 billion, a P/E ratio of 30.09 and a beta of 0.86. The company has a 50 day moving average price of $70.13 and a 200-day moving average price of $64.58. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the business earned $1.25 EPS. The business’s revenue was up 8.5% on a year-over-year basis. On average, analysts anticipate that AGCO Corporation will post $3.05 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.
In related news, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.18, for a total value of $721,800.00. Following the sale, the chief financial officer now directly owns 142,079 shares in the company, valued at approximately $10,255,262.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the sale, the senior vice president now owns 38,877 shares in the company, valued at $2,838,021. The disclosure for this sale can be found here. Insiders sold a total of 26,000 shares of company stock worth $1,871,500 over the last 90 days. 16.60% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. World Asset Management Inc raised its position in AGCO Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 5,189 shares of the industrial products company’s stock worth $312,000 after buying an additional 36 shares during the last quarter. Capstone Asset Management Co. raised its position in AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock worth $490,000 after buying an additional 50 shares during the last quarter. Raymond James Trust N.A. raised its position in AGCO Corporation by 0.9% in the second quarter. Raymond James Trust N.A. now owns 6,427 shares of the industrial products company’s stock worth $434,000 after buying an additional 56 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in AGCO Corporation by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,584 shares of the industrial products company’s stock worth $577,000 after buying an additional 61 shares during the last quarter. Finally, Utah Retirement Systems raised its position in AGCO Corporation by 0.8% in the first quarter. Utah Retirement Systems now owns 12,764 shares of the industrial products company’s stock worth $769,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 84.62% 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.
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