AGCO (NYSE:AGCO) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of AGCO (NYSE:AGCO) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $90.00 price target on the industrial products company’s stock, down from their prior price target of $98.00.

Several other research firms have also commented on AGCO. Truist Financial upped their target price on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Oppenheimer boosted their target price on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Baird R W downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.90.

AGCO Trading Down 3.1 %

Shares of AGCO stock opened at $75.85 on Tuesday. The company has a 50-day moving average of $95.24 and a two-hundred day moving average of $96.47. The stock has a market cap of $5.66 billion, a PE ratio of -13.33, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. AGCO has a 12-month low of $73.79 and a 12-month high of $125.76. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, research analysts anticipate that AGCO will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.53%. AGCO’s dividend payout ratio (DPR) is -20.39%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in shares of AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after buying an additional 220 shares in the last quarter. GeoWealth Management LLC acquired a new position in AGCO during the 4th quarter worth approximately $27,000. UMB Bank n.a. boosted its holdings in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in AGCO in the fourth quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp raised its stake in shares of AGCO by 112.3% during the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 265 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

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.