Agco Corp. (AGCO) Rating Increased to Outperform at Wells Fargo & Co.
Several other brokerages also recently commented on AGCO. Zacks Investment Research downgraded shares of Agco Corp. from a buy rating to a hold rating in a report on Tuesday, June 28th. Jefferies Group reiterated a buy rating on shares of Agco Corp. in a report on Friday, August 5th. Morgan Stanley set a $54.00 target price on shares of Agco Corp. and gave the company a hold rating in a report on Friday, August 5th. JPMorgan Chase & Co. downgraded shares of Agco Corp. from a neutral rating to an underweight rating and lowered their target price for the company from $47.00 to $44.00 in a report on Monday, June 27th. Finally, Deutsche Bank AG started coverage on shares of Agco Corp. in a report on Tuesday, September 6th. They issued a hold rating and a $54.00 target price for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $49.00.
Agco Corp. (NYSE:AGCO) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.10. Agco Corp. had a net margin of 2.58% and a return on equity of 7.72%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.01%. Agco Corp.’s payout ratio is currently 23.64%.
A number of institutional investors have recently bought and sold shares of the stock. BARING ASSET MANAGEMENT Ltd raised its position in Agco Corp. by 70.1% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 218,651 shares of the company’s stock valued at $10,305,000 after buying an additional 90,107 shares during the last quarter. Creative Planning raised its position in shares of Agco Corp. by 14.3% in the second quarter. Creative Planning now owns 11,366 shares of the company’s stock worth $536,000 after buying an additional 1,421 shares in the last quarter. Natixis acquired a new position in shares of Agco Corp. during the first quarter worth $3,976,000. Impax Asset Management LTD raised its position in shares of Agco Corp. by 58.6% in the second quarter. Impax Asset Management LTD now owns 68,980 shares of the company’s stock worth $3,251,000 after buying an additional 25,500 shares in the last quarter. Finally, Springbok Capital Management LLC raised its position in shares of Agco Corp. by 34.0% in the first quarter. Springbok Capital Management LLC now owns 6,700 shares of the company’s stock worth $333,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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