AGCO Co. Declares Quarterly Dividend of $0.29 (NYSE:AGCO)

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, October 24th, NASDAQ reports. Investors of record on Friday, November 15th will be given a dividend of 0.29 per share by the industrial products company on Monday, December 16th. This represents a $1.16 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, November 15th.

AGCO has raised its dividend payment by an average of 20.2% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. AGCO has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AGCO to earn $7.73 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 15.0%.

AGCO Trading Up 0.3 %

Shares of NYSE:AGCO traded up $0.35 during trading on Friday, reaching $100.42. 539,441 shares of the company traded hands, compared to its average volume of 761,671. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 0.91 and a beta of 1.25. The business’s fifty day moving average is $94.05 and its 200-day moving average is $101.02.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.90 by ($0.37). The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.29 EPS. As a group, analysts forecast that AGCO will post 8 EPS for the current year.

Insider Activity at AGCO

In related news, Director Lange Bob De acquired 1,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the purchase, the director now owns 7,007 shares in the company, valued at $615,985.37. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AGCO news, Director Michael C. Arnold acquired 1,800 shares of the stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the transaction, the director now directly owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lange Bob De acquired 1,420 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $87.91 per share, with a total value of $124,832.20. Following the purchase, the director now owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several research analyst reports. Citigroup increased their price objective on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Oppenheimer decreased their price objective on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. UBS Group reduced their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Barclays cut their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have given 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 $117.80.

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.