AGCO Co. (NYSE:AGCO – Get Rating)’s share price gapped down prior to trading on Monday . The stock had previously closed at $135.20, but opened at $131.26. AGCO shares last traded at $134.25, with a volume of 76,388 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. The Goldman Sachs Group lowered AGCO from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $149.00 to $135.00 in a research note on Monday. Credit Suisse Group lifted their price objective on AGCO from $143.00 to $174.00 and gave the stock an “outperform” rating in a research note on Thursday, December 22nd. JPMorgan Chase & Co. lifted their price objective on AGCO from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 13th. StockNews.com initiated coverage on AGCO in a research note on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Finally, Morgan Stanley boosted their price target on AGCO from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AGCO presently has an average rating of “Moderate Buy” and an average target price of $152.64.
AGCO Stock Performance
The stock has a market cap of $9.48 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.95 and a beta of 1.34. The company has a fifty day moving average price of $134.28 and a 200 day moving average price of $127.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.40 and a quick ratio of 0.62.
AGCO Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, February 14th. This represents a $0.96 annualized dividend and a dividend yield of 0.76%. AGCO’s dividend payout ratio is 8.09%.
Insider Activity
In other news, SVP Robert B. Crain sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $132.67, for a total transaction of $1,724,710.00. Following the completion of the sale, the senior vice president now owns 40,167 shares in the company, valued at $5,328,955.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Robert B. Crain sold 13,000 shares of the company’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $132.67, for a total transaction of $1,724,710.00. Following the completion of the sale, the senior vice president now owns 40,167 shares in the company, valued at $5,328,955.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Luis Fernando Sartini Felli sold 9,150 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $137.38, for a total value of $1,257,027.00. Following the sale, the senior vice president now owns 15,833 shares of the company’s stock, valued at approximately $2,175,137.54. The disclosure for this sale can be found here. Insiders sold a total of 27,142 shares of company stock worth $3,671,940 over the last quarter. 16.90% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On AGCO
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in AGCO by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,453,637 shares of the industrial products company’s stock worth $942,424,000 after buying an additional 106,593 shares in the last quarter. LSV Asset Management grew its stake in AGCO by 7.9% in the 3rd quarter. LSV Asset Management now owns 3,309,412 shares of the industrial products company’s stock valued at $318,266,000 after purchasing an additional 241,457 shares during the period. Victory Capital Management Inc. grew its stake in AGCO by 0.6% in the 4th quarter. Victory Capital Management Inc. now owns 3,260,006 shares of the industrial products company’s stock valued at $452,130,000 after purchasing an additional 18,305 shares during the period. Dimensional Fund Advisors LP grew its stake in AGCO by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,997,754 shares of the industrial products company’s stock valued at $277,068,000 after purchasing an additional 40,666 shares during the period. Finally, State Street Corp grew its stake in AGCO by 1.3% in the 3rd quarter. State Street Corp now owns 1,711,193 shares of the industrial products company’s stock valued at $164,565,000 after purchasing an additional 21,851 shares during the period. Institutional investors own 75.48% of the company’s stock.
About AGCO
AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America, South America, Europe and Middle East, and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.
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