Stephens began coverage on shares of AGCO (NYSE:AGCO) in a report issued on Wednesday morning, 24/7 WallStreet reports. The firm issued an overweight rating and a $80.00 price objective on the industrial products company’s stock.
AGCO has been the topic of several other reports. OTR Global upgraded shares of AGCO to a positive rating in a report on Friday, July 12th. Deutsche Bank set a $88.00 price objective on shares of AGCO and gave the company a buy rating in a report on Wednesday, July 31st. Zacks Investment Research upgraded shares of AGCO from a hold rating to a buy rating and set a $80.00 price objective on the stock in a report on Tuesday, April 16th. Credit Suisse Group restated a neutral rating and issued a $83.00 price objective (up from $70.00) on shares of AGCO in a report on Wednesday, July 31st. Finally, Stifel Nicolaus set a $79.00 price objective on shares of AGCO and gave the company a hold rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. AGCO has an average rating of Hold and a consensus target price of $77.07.
NYSE AGCO opened at $67.55 on Wednesday. AGCO has a 52 week low of $49.50 and a 52 week high of $80.64. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $74.88 and its 200-day simple moving average is $70.62. The firm has a market cap of $5.01 billion, a PE ratio of 13.40, a P/E/G ratio of 0.96 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.
In other AGCO news, VP Gary L. Collar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $72.96, for a total transaction of $364,800.00. Following the sale, the vice president now directly owns 83,807 shares in the company, valued at $6,114,558.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $71.17, for a total transaction of $711,700.00. Following the sale, the chief financial officer now owns 178,776 shares in the company, valued at $12,723,487.92. The disclosure for this sale can be found here. Insiders have sold 117,977 shares of company stock worth $8,707,768 over the last quarter. Insiders own 17.60% of the company’s stock.
A number of large investors have recently modified their holdings of AGCO. Bank of Montreal Can increased its stake in AGCO by 824.9% during the second quarter. Bank of Montreal Can now owns 1,102,403 shares of the industrial products company’s stock worth $85,513,000 after purchasing an additional 983,216 shares during the period. APG Asset Management N.V. increased its stake in AGCO by 672.0% during the second quarter. APG Asset Management N.V. now owns 679,400 shares of the industrial products company’s stock worth $46,278,000 after purchasing an additional 591,400 shares during the period. Norges Bank purchased a new stake in AGCO during the fourth quarter worth about $32,833,000. Renaissance Technologies LLC increased its stake in AGCO by 7,821.7% during the second quarter. Renaissance Technologies LLC now owns 364,400 shares of the industrial products company’s stock worth $28,267,000 after purchasing an additional 359,800 shares during the period. Finally, Turiya Advisors Asia Ltd increased its stake in AGCO by 120.6% during the second quarter. Turiya Advisors Asia Ltd now owns 650,673 shares of the industrial products company’s stock worth $50,473,000 after purchasing an additional 355,673 shares during the period. Institutional investors own 79.27% of the company’s stock.
AGCO Company Profile
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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