AGCO Corporation (NYSE:AGCO) Stock Has Average Price Target of $123.67

Key Points

• Analyst sentiment is mixed: Fourteen brokerages give AGCO a consensus “Hold” rating, with an average one-year price target of $123.67.
• Quarterly results were uneven: AGCO reported EPS of $1.05, above the $0.87 consensus estimate, but revenue of $2.26 billion missed estimates and fell 8.6% year over year.
• AGCO declared a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 1.1% yield.

AGCO Corporation (NYSE:AGCO - Get Free Report) has received a consensus recommendation of "Hold" from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $123.67.

AGCO has been the topic of several research reports. Wall Street Zen lowered AGCO from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Oppenheimer reiterated an "outperform" rating on shares of AGCO in a research report on Friday, October 30th. Citigroup reduced their target price on AGCO from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Truist Financial reissued a "buy" rating and issued a $136.00 target price (down from $146.00) on shares of AGCO in a research report on Monday, November 2nd. Finally, Weiss Ratings downgraded AGCO from a "hold (c+)" rating to a "hold (c-)" rating in a research note on Friday, October 30th.

Insiders Place Their Bets

In other AGCO news, Director Lange De bought 1,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $100.71 per share, with a total value of $100,710.00. Following the acquisition, the director directly owned 18,717 shares of the company's stock, valued at $1,884,989.07. The trade was a 5.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kelvin Bennett sold 1,000 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $132.89, for a total transaction of $132,890.00. Following the completion of the sale, the senior vice president owned 14,047 shares of the company's stock, valued at approximately $1,866,705.83. This trade represents a 6.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 32,597 shares of company stock valued at $3,721,969. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On AGCO

A number of institutional investors have recently added to or reduced their stakes in the business. Provenance Wealth Advisors LLC acquired a new position in shares of AGCO during the 3rd quarter worth $25,000. Reyes Financial Architecture Inc. acquired a new stake in shares of AGCO in the third quarter valued at about $25,000. Fortitude Family Office LLC boosted its holdings in AGCO by 234.8% during the third quarter. Fortitude Family Office LLC now owns 231 shares of the industrial products company's stock worth $26,000 after buying an additional 162 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in AGCO during the second quarter worth about $29,000. Finally, Root Financial Partners LLC purchased a new stake in AGCO during the third quarter worth about $30,000. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Trading Down 2.9%

Shares of AGCO stock opened at $113.13 on Wednesday. The company has a fifty day simple moving average of $114.15 and a 200-day simple moving average of $116.30. AGCO has a 12-month low of $98.22 and a 12-month high of $143.78. The company has a current ratio of 1.32, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 0.89 and a beta of 1.12.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.87 by $0.18. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business earned $1.35 EPS. AGCO's revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities analysts forecast that AGCO will post 5.49 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 16th. AGCO's dividend payout ratio is presently 30.85%.

AGCO Company Profile

AGCO Corporation designs, manufactures and distributes agricultural equipment and technology for farmers around the world. Its products include tractors, combines, hay and forage equipment, sprayers, seeding and tillage equipment, grain storage systems, and precision agriculture solutions. The company's brands include Fendt, Massey Ferguson, Valtra, and PTx, its precision agriculture business. AGCO was formed in 1990 and is headquartered in Duluth, Georgia. AGCO serves agricultural markets globally through a network of dealers and other distribution partners.

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