AGCO (NYSE:AGCO) Given New $111.00 Price Target at Oppenheimer

AGCO (NYSE:AGCO - Free Report) had its price target lowered by Oppenheimer from $131.00 to $111.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the industrial products company's stock.

Several other brokerages also recently commented on AGCO. The Goldman Sachs Group reduced their target price on AGCO from $127.00 to $112.00 and set a "neutral" rating for the company in a research note on Thursday, July 11th. StockNews.com downgraded AGCO from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. UBS Group cut their price target on AGCO from $107.00 to $104.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets started coverage on shares of AGCO in a research report on Friday, August 9th. They set a "market perform" rating and a $96.00 target price on the stock. Finally, Citigroup lifted their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, AGCO has an average rating of "Hold" and a consensus price target of $114.40.

AGCO Trading Up 4.8 %

AGCO stock traded up $4.29 during trading hours on Wednesday, reaching $94.52. 2,087,109 shares of the company's stock were exchanged, compared to its average volume of 773,216. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The firm's 50 day simple moving average is $95.52 and its 200 day simple moving average is $99.57. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The firm has a market capitalization of $7.06 billion, a PE ratio of 16.73, a PEG ratio of 0.94 and a beta of 1.25.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business's revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.97 earnings per share. Research analysts predict that AGCO will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. AGCO's dividend payout ratio is presently 20.71%.

Institutional Investors Weigh In On AGCO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. Manchester Capital Management LLC raised its stake in shares of AGCO by 93.2% during the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company's stock worth $28,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in shares of AGCO in the 1st quarter valued at $30,000. Blue Trust Inc. lifted its stake in shares of AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 174 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 210 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 167 shares during the period. Institutional investors 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.