AGCO’s (AGCO) Buy Rating Reaffirmed at William Blair
AGCO has been the topic of several other reports. TheStreet raised shares of AGCO from a c+ rating to a b- rating in a report on Tuesday, July 31st. Deutsche Bank reiterated a buy rating on shares of AGCO in a research report on Monday, September 24th. ValuEngine upgraded shares of AGCO from a sell rating to a hold rating in a research report on Tuesday, July 31st. UBS Group set a $63.00 price target on shares of AGCO and gave the stock a hold rating in a research report on Wednesday, November 7th. Finally, BMO Capital Markets lowered their price objective on shares of AGCO from $75.00 to $65.00 and set a market perform rating for the company in a research note on Monday, November 5th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $68.64.
Shares of AGCO opened at $58.02 on Wednesday. AGCO has a 12 month low of $49.50 and a 12 month high of $75.95. The firm has a market cap of $4.54 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.57.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. AGCO’s payout ratio is presently 19.87%.
In related news, VP Gary L. Collar sold 2,070 shares of AGCO stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $56.64, for a total value of $117,244.80. Following the completion of the sale, the vice president now directly owns 84,463 shares in the company, valued at approximately $4,783,984.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.60% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Whittier Trust Co. purchased a new position in AGCO in the 2nd quarter worth approximately $124,000. Point72 Hong Kong Ltd bought a new position in shares of AGCO during the 3rd quarter valued at approximately $158,000. Convergence Investment Partners LLC increased its position in shares of AGCO by 1,586.6% during the 2nd quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 3,205 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in AGCO in the 3rd quarter valued at $244,000. Finally, Laurion Capital Management LP bought a new position in AGCO in the 3rd quarter valued at $296,000. 87.03% of the stock is currently owned by hedge funds and other institutional investors.
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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