AGCO (NYSE:AGCO) Cut to “Market Perform” at Wells Fargo & Co

Wells Fargo & Co lowered shares of AGCO (NYSE:AGCO) from an outperform rating to a market perform rating in a research note released on Wednesday, BenzingaRatingsTable reports. Wells Fargo & Co currently has $80.00 price objective on the industrial products company’s stock, down from their prior price objective of $90.00.

Several other analysts have also recently weighed in on AGCO. Morgan Stanley lifted their price target on Williams-Sonoma from $52.00 to $56.00 and gave the stock an underweight rating in a report on Wednesday, July 10th. Jefferies Financial Group raised AGCO from a hold rating to a buy rating and lifted their price target for the stock from $70.00 to $90.00 in a report on Monday, June 24th. Zacks Investment Research cut Great Portland Estates from a hold rating to a sell rating in a report on Tuesday, April 16th. Citigroup lifted their price target on SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a report on Monday, May 6th. Finally, OTR Global raised AGCO to a positive rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $74.08.

NYSE:AGCO opened at $75.75 on Wednesday. The firm has a market cap of $5.82 billion, a PE ratio of 17.22, a P/E/G ratio of 1.16 and a beta of 0.98. The business’s 50 day moving average price is $74.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.54 and a current ratio of 1.30. AGCO has a 1-year low of $49.50 and a 1-year high of $79.00.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.44. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. AGCO had a return on equity of 11.62% and a net margin of 3.49%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. As a group, equities research analysts predict that AGCO will post 4.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.

In other AGCO news, SVP Robert B. Crain sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the transaction, the senior vice president now owns 81,914 shares in the company, valued at approximately $5,968,254.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Martin Richenhagen sold 45,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.14, for a total value of $3,471,300.00. Following the transaction, the chairman now owns 447,317 shares in the company, valued at approximately $34,506,033.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,000 shares of company stock worth $12,536,330. Corporate insiders own 17.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. LSV Asset Management increased its stake in shares of AGCO by 2.9% in the 1st quarter. LSV Asset Management now owns 2,717,410 shares of the industrial products company’s stock valued at $188,995,000 after purchasing an additional 76,400 shares during the last quarter. FMR LLC increased its stake in shares of AGCO by 29.1% in the 1st quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after purchasing an additional 309,101 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of AGCO by 4.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,290,814 shares of the industrial products company’s stock valued at $71,860,000 after purchasing an additional 50,999 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AGCO by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,239,289 shares of the industrial products company’s stock valued at $68,991,000 after purchasing an additional 45,469 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of AGCO by 310.9% in the 4th quarter. Millennium Management LLC now owns 1,204,363 shares of the industrial products company’s stock valued at $67,047,000 after purchasing an additional 911,239 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

Further Reading: How To Calculate Debt-to-Equity Ratio

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