AGCO (NYSE:AGCO) Upgraded at StockNews.com

StockNews.com upgraded shares of AGCO (NYSE:AGCO - Free Report) from a sell rating to a hold rating in a report issued on Tuesday morning.

Several other equities analysts have also commented on AGCO. Morgan Stanley lowered AGCO from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $94.00 to $75.00 in a research note on Wednesday, April 16th. Truist Financial cut their price objective on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Citigroup raised shares of AGCO from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $98.00 to $90.00 in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $99.80.

AGCO Price Performance

Shares of AGCO stock traded up $3.64 during trading on Tuesday, hitting $85.97. 939,595 shares of the company were exchanged, compared to its average volume of 893,217. The firm has a 50 day moving average price of $91.22 and a 200 day moving average price of $95.34. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of -15.11, a P/E/G ratio of 1.80 and a beta of 1.16. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. AGCO has a fifty-two week low of $73.79 and a fifty-two week high of $119.88.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, equities analysts expect that AGCO will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.35%. AGCO's dividend payout ratio (DPR) is presently -20.39%.

Hedge Funds Weigh In On AGCO

A number of institutional investors have recently added to or reduced their stakes in the company. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in AGCO in the fourth quarter valued at $3,144,000. Gateway Investment Advisers LLC bought a new stake in shares of AGCO in the 4th quarter worth about $311,000. Olstein Capital Management L.P. raised its stake in shares of AGCO by 20.8% in the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 2,500 shares in the last quarter. Principal Financial Group Inc. grew its stake in AGCO by 28.2% in the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company's stock worth $66,959,000 after purchasing an additional 150,656 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in AGCO by 98.5% during the 4th quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company's stock worth $4,582,000 after buying an additional 24,320 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

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.