AGCO (NYSE:AGCO) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of AGCO (NYSE:AGCO) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set an “equal weight” rating on the industrial products company’s stock.

Several other research firms have also issued reports on AGCO. Weiss Ratings reiterated a “hold (c)” rating on shares of AGCO in a research note on Thursday. Citigroup reduced their price objective on shares of AGCO from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Truist Financial restated a “buy” rating and issued a $123.00 target price (down from $142.00) on shares of AGCO in a research note on Monday, November 3rd. JPMorgan Chase & Co. upped their price target on AGCO from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen raised AGCO from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AGCO presently has an average rating of “Hold” and a consensus target price of $113.70.

AGCO Price Performance

NYSE:AGCO traded down $1.69 during trading hours on Thursday, reaching $104.40. The stock had a trading volume of 458,379 shares, compared to its average volume of 837,644. The stock has a market capitalization of $7.79 billion, a PE ratio of 77.91, a PEG ratio of 1.73 and a beta of 1.25. AGCO has a 52 week low of $73.79 and a 52 week high of $121.16. The company has a 50 day moving average price of $107.75 and a two-hundred day moving average price of $106.56. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.48 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. AGCO has set its FY 2025 guidance at 5.000-5.000 EPS. As a group, sell-side analysts anticipate that AGCO will post 4.2 earnings per share for the current fiscal year.

Insider Activity at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $104.28, for a total value of $26,070.00. Following the completion of the transaction, the senior vice president directly owned 17,130 shares of the company’s stock, valued at approximately $1,786,316.40. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

About AGCO

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.