Morgan Stanley Raises AGCO (NYSE:AGCO) Price Target to $65.00

AGCO (NYSE:AGCO) had its price objective hoisted by Morgan Stanley from $60.00 to $65.00 in a report published on Wednesday morning, Stock Target Advisor reports. They currently have an underweight rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the stock. UBS Group reiterated a buy rating and issued a $25.00 price objective on shares of Infineon Technologies in a research report on Tuesday, May 7th. Royal Bank of Canada set a €86.00 ($100.00) price objective on shares of Henkel AG & Co KGaA and gave the company a neutral rating in a research report on Tuesday, May 7th. Zacks Investment Research downgraded shares of Great Portland Estates from a hold rating to a sell rating in a research report on Tuesday, April 16th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Co reiterated a buy rating and issued a $85.00 price objective on shares of Carvana in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $74.85.

NYSE AGCO opened at $77.62 on Wednesday. AGCO has a one year low of $49.50 and a one year high of $79.00. The firm has a 50-day simple moving average of $72.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.30 and a quick ratio of 0.54. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.14 and a beta of 0.98.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.44. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. Equities research analysts expect that AGCO will post 4.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from AGCO’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, May 14th. AGCO’s payout ratio is 16.45%.

In other news, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total value of $1,821,500.00. Following the transaction, the senior vice president now owns 81,914 shares of the company’s stock, valued at approximately $5,968,254.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Martin Richenhagen sold 51,000 shares of AGCO stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $71.47, for a total transaction of $3,644,970.00. Following the completion of the transaction, the chairman now directly owns 495,279 shares in the company, valued at approximately $35,397,590.13. The disclosure for this sale can be found here. Insiders sold a total of 178,000 shares of company stock worth $12,710,000 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Scout Investments Inc. acquired a new position in AGCO during the 2nd quarter valued at $13,686,000. Retirement Systems of Alabama grew its holdings in shares of AGCO by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 83,894 shares of the industrial products company’s stock worth $6,508,000 after purchasing an additional 230 shares during the last quarter. DNB Asset Management AS bought a new stake in shares of AGCO in the 2nd quarter worth about $1,606,000. FMR LLC grew its holdings in shares of AGCO by 29.1% in the 1st quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock worth $95,288,000 after purchasing an additional 309,101 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of AGCO by 2.9% in the 1st quarter. Nordea Investment Management AB now owns 464,061 shares of the industrial products company’s stock worth $32,275,000 after purchasing an additional 12,979 shares during the last quarter. 80.87% of the stock is currently owned by institutional investors.

AGCO Company Profile

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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