JPMorgan Chase & Co. Cuts AGCO (NYSE:AGCO) Price Target to $123.00

AGCO (NYSE:AGCO) had its price target decreased by JPMorgan Chase & Co. from $127.00 to $123.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on AGCO. Wells Fargo & Company initiated coverage on shares of AGCO in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $114.00 price target for the company. Oppenheimer boosted their price objective on shares of AGCO from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Zacks Research lowered AGCO from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Truist Financial reaffirmed a “buy” rating and set a $123.00 target price (down previously from $142.00) on shares of AGCO in a research report on Monday, November 3rd. Finally, Barclays lowered AGCO from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $116.00 to $93.00 in a research report on Friday. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, AGCO has a consensus rating of “Hold” and a consensus target price of $110.60.

AGCO Price Performance

Shares of AGCO stock opened at $106.06 on Friday. AGCO has a twelve month low of $73.79 and a twelve month high of $121.16. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $106.31 and a two-hundred day simple moving average of $107.73. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.69 and a beta of 1.18.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. AGCO had a return on equity of 9.36% and a net margin of 3.73%.The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. On average, analysts predict that AGCO will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 14th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.1%. AGCO’s dividend payout ratio (DPR) is presently 23.06%.

Insiders Place Their Bets

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $104.28, for a total transaction of $26,070.00. Following the transaction, the senior vice president directly owned 17,130 shares of the company’s stock, valued at $1,786,316.40. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 16.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS lifted its holdings in shares of AGCO by 0.7% during the third quarter. KLP Kapitalforvaltning AS now owns 14,300 shares of the industrial products company’s stock worth $1,531,000 after purchasing an additional 100 shares during the period. Baader Bank Aktiengesellschaft raised its position in AGCO by 3.1% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 3,794 shares of the industrial products company’s stock worth $390,000 after buying an additional 113 shares during the last quarter. Quantum Portfolio Management LLC raised its position in AGCO by 5.5% during the 2nd quarter. Quantum Portfolio Management LLC now owns 2,495 shares of the industrial products company’s stock worth $257,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC lifted its stake in AGCO by 8.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,818 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 146 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of AGCO by 29.7% in the 1st quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 149 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Company Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.