AGCO (NYSE:AGCO) Shares Gap Down to $102.05

AGCO Co. (NYSE:AGCO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $102.05, but opened at $95.84. AGCO shares last traded at $95.66, with a volume of 273,724 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup assumed coverage on AGCO in a report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 target price on the stock. Barclays reduced their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. The Goldman Sachs Group reduced their target price on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Truist Financial reduced their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.63.

AGCO Stock Performance

The firm has a market capitalization of $7.23 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. The stock has a 50-day moving average price of $101.42 and a 200-day moving average price of $111.15.

AGCO (NYSE:AGCO) last announced its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $3.51 earnings per share. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, research analysts expect that AGCO Co. will post 10.95 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. Investors of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, August 15th. AGCO’s dividend payout ratio is currently 7.85%.

Institutional Trading of AGCO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in AGCO by 128.9% in the second quarter. Signaturefd LLC now owns 799 shares of the industrial products company’s stock valued at $78,000 after buying an additional 450 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of AGCO during the second quarter valued at approximately $1,008,000. Innealta Capital LLC bought a new position in shares of AGCO during the second quarter valued at approximately $103,000. Groesbeck Investment Management Corp NJ grew its holdings in shares of AGCO by 46.6% during the second quarter. Groesbeck Investment Management Corp NJ now owns 3,506 shares of the industrial products company’s stock valued at $343,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of AGCO during the second quarter valued at approximately $147,000. 78.80% of the stock is owned by 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.