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

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

Other analysts have also recently issued reports about the company. UBS Group reissued a buy rating and set a $25.00 target price on shares of Infineon Technologies in a research note on Tuesday, May 7th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on Diageo and gave the stock a neutral rating in a research note on Wednesday. Wells Fargo & Co reissued a buy rating and set a $85.00 target price on shares of Carvana in a research note on Monday, July 1st. Jefferies Financial Group raised AGCO from a hold rating to a buy rating and increased their target price for the stock from $70.00 to $90.00 in a research note on Monday, June 24th. Finally, Citigroup increased their target price on SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $74.85.

Shares of NYSE:AGCO opened at $77.62 on Wednesday. The firm has a market cap of $5.79 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98. The company has a 50 day moving average price of $72.83. The company has a quick ratio of 0.54, a current ratio of 1.30 and a debt-to-equity ratio of 0.52. AGCO has a fifty-two week low of $49.50 and a fifty-two week high of $79.00.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.16 per share. This is a boost from AGCO’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is currently 16.45%.

In other news, Chairman Martin Richenhagen sold 51,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 of the company’s stock, valued at approximately $35,397,590.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert B. Crain sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the transaction, the senior vice president now directly owns 81,914 shares of the company’s stock, valued at $5,968,254.04. The disclosure for this sale can be found here. Insiders have sold a total of 178,000 shares of company stock valued at $12,710,000 over the last ninety days. Company insiders own 17.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AGCO. Bronfman E.L. Rothschild L.P. grew its position in shares of AGCO by 116.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 415 shares during the period. Investors Research Corp bought a new stake in shares of AGCO during the 1st quarter worth about $94,000. Quadrant Capital Group LLC raised its position in shares of AGCO by 83.7% during the 1st quarter. Quadrant Capital Group LLC now owns 1,488 shares of the industrial products company’s stock worth $97,000 after buying an additional 678 shares in the last quarter. Private Capital Group LLC raised its position in shares of AGCO by 51.3% during the 1st quarter. Private Capital Group LLC now owns 1,652 shares of the industrial products company’s stock worth $115,000 after buying an additional 560 shares in the last quarter. Finally, Chiron Investment Management LLC bought a new stake in shares of AGCO during the 4th quarter worth about $181,000. 80.87% of the stock is owned by institutional investors and hedge funds.

About AGCO

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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