JPMorgan Chase & Co. Lowers AGCO (NYSE:AGCO) to Neutral

JPMorgan Chase & Co. downgraded shares of AGCO (NYSE:AGCO) from an overweight rating to a neutral rating in a research report report published on Wednesday, Benzinga’s Daily Ratings Newsletter reports. The brokerage currently has $77.00 price objective on the industrial products company’s stock.

A number of other equities analysts have also weighed in on the stock. Citigroup upped their price target on shares of SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a research report on Monday, May 6th. Jefferies Financial Group upgraded shares of AGCO from a hold rating to a buy rating and upped their price target for the stock from $70.00 to $90.00 in a research report on Monday, June 24th. UBS Group reiterated a buy rating and issued a $25.00 price target on shares of Infineon Technologies in a research report on Tuesday, May 7th. Morgan Stanley set a $226.00 price target on shares of S&P Global and gave the stock a hold rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Co reiterated a buy rating and issued a $85.00 price target on shares of Carvana in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $74.85.

Shares of AGCO stock opened at $77.62 on Wednesday. AGCO has a 12 month low of $49.50 and a 12 month high of $79.00. The stock has a market capitalization of $5.79 billion, a PE ratio of 17.13, a P/E/G ratio of 1.14 and a beta of 0.98. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52. The firm’s 50 day simple moving average is $72.83.



AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.44. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. On average, sell-side analysts predict that AGCO will post 4.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a dividend of $0.16 per share. This is a positive change from AGCO’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.82%. AGCO’s dividend payout ratio is currently 16.45%.

In related news, SVP Robert B. Crain sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the completion of the transaction, the senior vice president now owns 81,914 shares in the company, valued at $5,968,254.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Martin Richenhagen sold 51,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the transaction, the chairman now owns 503,733 shares of the company’s stock, valued at approximately $35,477,915.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,000 shares of company stock valued at $12,710,000. 17.60% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of AGCO. Vanguard Group Inc raised its stake in AGCO by 1.1% during the third quarter. Vanguard Group Inc now owns 6,029,986 shares of the industrial products company’s stock valued at $366,563,000 after purchasing an additional 65,104 shares in the last quarter. LSV Asset Management raised its stake in AGCO by 2.9% during the first quarter. LSV Asset Management now owns 2,717,410 shares of the industrial products company’s stock valued at $188,995,000 after purchasing an additional 76,400 shares in the last quarter. FMR LLC raised its stake in AGCO by 29.1% during the first quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after purchasing an additional 309,101 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in AGCO by 4.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,290,814 shares of the industrial products company’s stock valued at $71,860,000 after purchasing an additional 50,999 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in AGCO by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,239,289 shares of the industrial products company’s stock valued at $68,991,000 after purchasing an additional 45,469 shares in the last quarter. Hedge funds and other institutional investors own 80.87% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Analyst Recommendations for AGCO (NYSE:AGCO)

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