The Goldman Sachs Group Trims AGCO (NYSE:AGCO) Target Price to $112.00

AGCO (NYSE:AGCO) had its price target lowered by The Goldman Sachs Group from $127.00 to $112.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other analysts have also weighed in on the company. Citigroup started coverage on AGCO in a research note on Wednesday, June 26th. They issued a neutral rating and a $108.00 price objective on the stock. Oppenheimer reduced their price objective on AGCO from $145.00 to $133.00 and set an outperform rating on the stock in a research note on Wednesday, June 12th. Truist Financial reduced their price objective on AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. reduced their price objective on AGCO from $135.00 to $130.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Finally, Raymond James started coverage on AGCO in a research note on Friday, June 28th. They issued a market perform rating on the stock. Four 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 has an average rating of Moderate Buy and a consensus target price of $129.14.

AGCO Stock Performance

AGCO opened at $98.05 on Thursday. The firm has a market cap of $7.32 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. AGCO has a 52-week low of $92.75 and a 52-week high of $140.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The business’s fifty day moving average is $104.41 and its 200-day moving average is $112.76.

AGCO (NYSE:AGCO) last released its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. AGCO’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.51 EPS. Sell-side analysts expect that AGCO will post 11.64 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s payout ratio is 7.85%.

Institutional Trading of AGCO

A number of hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new position in shares of AGCO in the fourth quarter worth approximately $26,000. FinTrust Capital Advisors LLC raised its holdings in AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 117 shares during the last quarter. Manchester Capital Management LLC raised its holdings in 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 purchasing an additional 110 shares during the last quarter. LRI Investments LLC bought a new stake in shares of AGCO in the 1st quarter valued at $30,000. Finally, Allworth Financial LP increased its position in shares of AGCO by 72.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after buying an additional 120 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

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.