AGCO (NYSE:AGCO) Given New $99.00 Price Target at The Goldman Sachs Group

AGCO (NYSE:AGCO) had its target price cut by The Goldman Sachs Group from $112.00 to $99.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

AGCO has been the subject of a number of other reports. Oppenheimer reduced their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial increased their price target on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays dropped their price objective on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Citigroup increased their target price on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lowered their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Price Performance

Shares of AGCO stock opened at $94.52 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $95.60 and a 200-day simple moving average of $99.53. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.94 and a beta of 1.25. AGCO has a 1-year low of $84.35 and a 1-year high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the company earned $3.97 earnings per share. On average, sell-side analysts expect that AGCO will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. AGCO’s dividend payout ratio (DPR) is presently 20.71%.

Institutional Trading of AGCO

Hedge funds have recently modified their holdings of the company. Forum Financial Management LP boosted its stake in AGCO by 5.5% in the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 109 shares in the last quarter. Manchester Capital Management LLC raised its holdings in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Capital Insight Partners LLC lifted its position in AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock worth $431,000 after buying an additional 110 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in AGCO by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock worth $1,666,000 after acquiring an additional 126 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

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.