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.
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.
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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