The Goldman Sachs Group Cuts AGCO (NYSE:AGCO) Price Target to $99.00

AGCO (NYSE:AGCO) had its price target cut by The Goldman Sachs Group from $112.00 to $99.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other analysts also recently commented on AGCO. Truist Financial increased their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. UBS Group lowered their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, BMO Capital Markets initiated coverage on AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $114.40.

AGCO Trading Down 2.4 %

NYSE:AGCO opened at $91.82 on Wednesday. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.93 and a beta of 1.25. The firm has a fifty day simple moving average of $95.69 and a two-hundred day simple moving average of $99.30.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business posted $3.97 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Analysts expect that AGCO will post 7.87 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. AGCO’s dividend payout ratio is presently 20.71%.

Institutional Trading of AGCO

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in AGCO by 103.5% in the second quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock valued at $153,814,000 after acquiring an additional 799,429 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of AGCO by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after buying an additional 784,617 shares in the last quarter. AQR Capital Management LLC lifted its position in AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock worth $171,090,000 after buying an additional 605,509 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in AGCO by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after buying an additional 391,591 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Company Profile

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.