AGCO (NYSE:AGCO) Given New $118.00 Price Target at Truist Financial

AGCO (NYSE:AGCO - Free Report) had its price target boosted by Truist Financial from $109.00 to $118.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the industrial products company's stock.

Several other analysts have also issued reports on AGCO. Oppenheimer cut their price target on AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Morgan Stanley began coverage on AGCO in a report on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price target for the company. The Goldman Sachs Group cut their price target on AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Citigroup dropped their price objective on AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, AGCO presently has an average rating of "Hold" and a consensus price target of $107.40.

AGCO Stock Performance

AGCO stock traded up $2.64 during mid-day trading on Thursday, reaching $100.00. 497,642 shares of the stock traded hands, compared to its average volume of 744,344. The stock has a market capitalization of $7.46 billion, a PE ratio of 44.25, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO has a 12-month low of $84.35 and a 12-month high of $130.26. The business's 50-day moving average is $95.15 and its 200-day moving average is $94.89.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter last year, the company posted $3.97 EPS. The firm's revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that AGCO will post 7.34 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, November 15th. AGCO's payout ratio is presently 51.33%.

Hedge Funds Weigh In On AGCO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in AGCO by 133.0% during the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company's stock valued at $8,263,000 after buying an additional 48,198 shares during the last quarter. Royal London Asset Management Ltd. raised its position in AGCO by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company's stock valued at $61,024,000 after purchasing an additional 12,328 shares during the period. Stratos Wealth Advisors LLC raised its position in AGCO by 42.3% during the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company's stock valued at $1,670,000 after purchasing an additional 5,069 shares during the period. Principal Financial Group Inc. raised its position in AGCO by 28.2% during the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company's stock valued at $66,959,000 after purchasing an additional 150,656 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in AGCO by 150.1% during the third quarter. Crossmark Global Holdings Inc. now owns 16,591 shares of the industrial products company's stock valued at $1,624,000 after purchasing an additional 9,956 shares during the period. 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.