AGCO (NYSE:AGCO) Cut to “Sell” at StockNews.com

StockNews.com cut shares of AGCO (NYSE:AGCO) from a hold rating to a sell rating in a research report released on Thursday.

AGCO has been the topic of several other research reports. Robert W. Baird cut their target price on AGCO from $139.00 to $129.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of AGCO from $130.00 to $115.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. UBS Group lowered their target price on shares of AGCO from $107.00 to $104.00 and set a neutral rating for the company in a research note on Wednesday, July 31st. Truist Financial reaffirmed a buy rating and issued a $118.00 price target (down from $130.00) on shares of AGCO in a report on Wednesday, July 31st. Finally, Raymond James began coverage on AGCO in a research report on Friday, June 28th. They issued a market perform rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $121.20.

AGCO Price Performance

Shares of AGCO stock opened at $89.57 on Thursday. AGCO has a twelve month low of $88.12 and a twelve month high of $132.94. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $100.24 and a two-hundred day simple moving average of $110.50. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 6.06, a P/E/G ratio of 0.86 and a beta of 1.27.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company earned $4.29 earnings per share. The firm’s revenue was down 15.1% compared to the same quarter last year. On average, analysts predict that AGCO will post 7.89 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio is presently 7.85%.

Hedge Funds Weigh In On AGCO

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after buying an additional 784,617 shares during the period. Victory Capital Management Inc. raised its position in AGCO by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock valued at $371,586,000 after acquiring an additional 18,209 shares in the last quarter. Mirova US LLC lifted its holdings in AGCO by 2.0% in the second quarter. Mirova US LLC now owns 1,198,024 shares of the industrial products company’s stock valued at $117,263,000 after acquiring an additional 23,536 shares during the period. Massachusetts Financial Services Co. MA boosted its position in AGCO by 3,115.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after purchasing an additional 1,155,440 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of AGCO by 1.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,012,681 shares of the industrial products company’s stock valued at $122,517,000 after purchasing an additional 17,690 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

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.