AGCO (NYSE:AGCO) Stock Crosses Above 200 Day Moving Average - Here's Why

AGCO Corporation (NYSE:AGCO - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $116.30 and traded as high as $119.22. AGCO shares last traded at $116.6030, with a volume of 1,003,459 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer reaffirmed an "outperform" rating on shares of AGCO in a research note on Friday, October 30th. DA Davidson reissued a "buy" rating and set a $151.00 price target on shares of AGCO in a research note on Thursday, October 8th. Truist Financial restated a "buy" rating and set a $136.00 price objective (down from $146.00) on shares of AGCO in a report on Monday, November 2nd. UBS Group cut their price objective on AGCO from $123.00 to $114.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 4th. Finally, Robert W. Baird raised AGCO from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $120.00 to $150.00 in a research report on Monday, August 31st. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, AGCO presently has an average rating of "Hold" and a consensus target price of $123.67.

AGCO Stock Up 5.6%

The company has a quick ratio of 0.55, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 0.86 and a beta of 1.12. The business's 50-day moving average is $114.26 and its 200-day moving average is $116.30.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.18. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.32 billion. AGCO had a return on equity of 9.66% and a net margin of 2.76%. AGCO's revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. As a group, equities analysts predict that AGCO Corporation will post 5.49 earnings per share for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. AGCO's payout ratio is presently 30.85%.

Insider Buying and Selling at AGCO

In other news, CEO Eric Hansotia sold 2,604 shares of the company's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $129.75, for a total transaction of $337,869.00. Following the sale, the chief executive officer owned 326,939 shares of the company's stock, valued at approximately $42,420,335.25. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelvin Bennett sold 1,000 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $132.89, for a total transaction of $132,890.00. Following the sale, the senior vice president owned 14,047 shares in the company, valued at $1,866,705.83. The trade was a 6.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,204 shares of company stock valued at $671,239 over the last three months. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in AGCO by 5.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,963 shares of the industrial products company's stock valued at $235,000 after purchasing an additional 94 shares during the period. State of Wyoming raised its holdings in shares of AGCO by 8.6% during the third quarter. State of Wyoming now owns 1,622 shares of the industrial products company's stock valued at $185,000 after buying an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of AGCO by 36.0% during the first quarter. EverSource Wealth Advisors LLC now owns 521 shares of the industrial products company's stock valued at $60,000 after buying an additional 138 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of AGCO by 1.2% during the first quarter. Cetera Investment Advisers now owns 13,000 shares of the industrial products company's stock worth $1,506,000 after buying an additional 155 shares during the period. Finally, Fortitude Family Office LLC boosted its position in shares of 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 during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

About AGCO

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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