Agco Corp. (NYSE:AGCO) was upgraded by equities researchers at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a research report issued on Monday. The brokerage presently has a $53.00 price target on the stock, up from their previous price target of $39.00. Piper Jaffray Cos.’s price objective points to a potential downside of 6.19% from the stock’s previous close.
AGCO has been the topic of a number of other research reports. Wells Fargo & Co. raised shares of Agco Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Deutsche Bank AG cut their price target on Agco Corp. from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, October 12th. Zacks Investment Research cut Agco Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $53.00 price target on shares of Agco Corp. in a report on Tuesday, August 30th. Finally, Barclays PLC lifted their price target on Agco Corp. from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $49.75.
Shares of Agco Corp. (NYSE:AGCO) traded down 0.37% during midday trading on Monday, reaching $56.29. The company’s stock had a trading volume of 1,260,417 shares. The stock has a market capitalization of $4.52 billion, a PE ratio of 29.05 and a beta of 1.04. Agco Corp. has a 12 month low of $42.40 and a 12 month high of $56.99. The stock’s 50 day moving average is $51.79 and its 200 day moving average is $49.92.
Agco Corp. (NYSE:AGCO) last issued its earnings results on Wednesday, October 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.15. Agco Corp. had a net margin of 2.20% and a return on equity of 6.85%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company posted $0.77 earnings per share. Agco Corp.’s revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that Agco Corp. will post $2.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.52 annualized dividend and a yield of 0.92%. Agco Corp.’s dividend payout ratio (DPR) is 26.94%.
In other Agco Corp. news, VP Gary L. Collar sold 2,309 shares of Agco Corp. stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $53.00, for a total transaction of $122,377.00. Following the transaction, the vice president now directly owns 47,663 shares in the company, valued at approximately $2,526,139. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 16.00% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of AGCO. Creative Planning boosted its position in Agco Corp. by 0.6% in the third quarter. Creative Planning now owns 11,434 shares of the company’s stock valued at $564,000 after buying an additional 68 shares in the last quarter. Pacer Advisors Inc. boosted its position in Agco Corp. by 1.7% in the third quarter. Pacer Advisors Inc. now owns 7,399 shares of the company’s stock valued at $365,000 after buying an additional 121 shares in the last quarter. Calvert Investment Management Inc. boosted its position in Agco Corp. by 2.7% in the second quarter. Calvert Investment Management Inc. now owns 5,702 shares of the company’s stock valued at $269,000 after buying an additional 148 shares in the last quarter. AGF Investments America Inc. boosted its position in Agco Corp. by 0.4% in the third quarter. AGF Investments America Inc. now owns 45,431 shares of the company’s stock valued at $2,241,000 after buying an additional 161 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in Agco Corp. by 0.5% in the third quarter. BB&T Securities LLC now owns 35,335 shares of the company’s stock valued at $1,742,000 after buying an additional 193 shares in the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
About Agco Corp.