AGCO Corporation (AGCO) Given Average Rating of “Hold” by Analysts

Shares of AGCO Corporation (NYSE:AGCO) have earned a consensus recommendation of “Hold” from the twenty-one research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $64.80.

AGCO has been the topic of a number of recent analyst reports. J P Morgan Chase & Co raised AGCO Corporation from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $60.00 in a report on Monday, May 1st. Seaport Global Securities boosted their target price on AGCO Corporation from $57.00 to $61.00 and gave the stock a “neutral” rating in a report on Monday, May 1st. Citigroup Inc. boosted their target price on AGCO Corporation from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, May 1st. Credit Suisse Group set a $60.00 price target on AGCO Corporation and gave the company a “hold” rating in a research note on Sunday, April 30th. Finally, TheStreet downgraded AGCO Corporation from a “b” rating to a “c+” rating in a research note on Friday, April 28th.

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In related news, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the sale, the senior vice president now owns 38,877 shares in the company, valued at approximately $2,838,021. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $72.18, for a total value of $721,800.00. Following the sale, the chief financial officer now owns 142,079 shares in the company, valued at approximately $10,255,262.22. The disclosure for this sale can be found here. In the last three months, insiders sold 26,000 shares of company stock valued at $1,871,500. Insiders own 16.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of AGCO Corporation during the fourth quarter valued at about $41,812,000. Quadrature Capital Ltd raised its position in shares of AGCO Corporation by 34.6% in the fourth quarter. Quadrature Capital Ltd now owns 6,756 shares of the industrial products company’s stock valued at $391,000 after buying an additional 1,736 shares during the last quarter. Teachers Advisors LLC raised its position in shares of AGCO Corporation by 117.6% in the fourth quarter. Teachers Advisors LLC now owns 389,304 shares of the industrial products company’s stock valued at $22,525,000 after buying an additional 210,402 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of AGCO Corporation by 26.3% in the fourth quarter. Macquarie Group Ltd. now owns 4,800 shares of the industrial products company’s stock valued at $278,000 after buying an additional 1,000 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of 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 valued at $490,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.62% of the company’s stock.

AGCO Corporation (AGCO) opened at 70.04 on Friday. The firm has a market capitalization of $5.57 billion, a PE ratio of 30.63 and a beta of 0.86. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97. The firm’s 50-day moving average is $70.07 and its 200-day moving average is $64.54.

AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings results 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. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, equities research analysts expect that AGCO Corporation will post $3.05 EPS for the current year.

The business also recently declared 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 0.80%. AGCO Corporation’s payout ratio is 24.56%.

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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