AGCO Co. (NYSE:AGCO) to Issue Quarterly Dividend of $0.29

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.29 per share by the industrial products company on Monday, December 16th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th.

AGCO has increased its dividend by an average of 20.2% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. AGCO has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Analysts expect AGCO to earn $7.73 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 15.0%.

AGCO Stock Up 0.3 %

AGCO stock opened at $100.42 on Friday. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The stock has a market cap of $7.49 billion, a P/E ratio of 6.79, a PEG ratio of 0.91 and a beta of 1.25. The business’s 50-day moving average price is $94.29 and its 200-day moving average price is $100.88.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm earned $4.29 earnings per share. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. On average, equities research analysts forecast that AGCO will post 8 EPS for the current year.

Insider Activity

In related news, Director Lange Bob De bought 1,420 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $87.91 per share, with a total value of $124,832.20. Following the transaction, the director now owns 7,007 shares in the company, valued at $615,985.37. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AGCO news, Director Lange Bob De acquired 1,420 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $87.91 per share, with a total value of $124,832.20. Following the transaction, the director now directly owns 7,007 shares of the company’s stock, valued at $615,985.37. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael C. Arnold acquired 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the transaction, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

AGCO has been the topic of a number of research analyst reports. Truist Financial boosted their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Raymond James initiated coverage on AGCO in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Oppenheimer lowered their price target on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets initiated coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective on the stock. Finally, UBS Group decreased their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, AGCO presently has an average rating of “Hold” and an average price target of $117.80.

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.