AGCO Co. (AGCO) To Go Ex-Dividend on May 19th

AGCO Co. (NYSE:AGCOGet Rating) declared a dividend on Thursday, April 28th, Fidelity reports. Stockholders of record on Friday, May 20th will be paid a dividend of 4.50 per share by the industrial products company on Tuesday, June 21st. The ex-dividend date of this dividend is Thursday, May 19th.

AGCO has raised its dividend by an average of 99.4% annually over the last three years and has increased its dividend every year for the last 2 years. AGCO has a payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AGCO to earn $14.38 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 6.7%.

Shares of AGCO stock opened at $123.60 on Tuesday. AGCO has a one year low of $108.56 and a one year high of $150.68. The company has a market cap of $9.21 billion, a PE ratio of 10.38, a P/E/G ratio of 1.01 and a beta of 1.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.69 and a current ratio of 1.64. The business has a 50-day simple moving average of $134.11 and a 200-day simple moving average of $125.34.

AGCO (NYSE:AGCOGet Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.48. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.65 billion. AGCO had a return on equity of 24.11% and a net margin of 7.85%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 earnings per share. On average, sell-side analysts predict that AGCO will post 12.03 earnings per share for the current fiscal year.

In other news, CAO Lara Thrush Long sold 900 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $117.55, for a total transaction of $105,795.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in AGCO. Neo Ivy Capital Management acquired a new position in AGCO during the fourth quarter worth $153,000. Covestor Ltd grew its holdings in AGCO by 68.6% in the first quarter. Covestor Ltd now owns 1,133 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 461 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in AGCO in the first quarter valued at $211,000. XTX Topco Ltd acquired a new stake in AGCO in the first quarter valued at $213,000. Finally, Vident Investment Advisory LLC acquired a new stake in AGCO in the first quarter valued at $229,000. 77.74% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on AGCO from $141.00 to $143.00 and gave the stock a “hold” rating in a research note on Thursday, April 14th. Zacks Investment Research cut AGCO from a “strong-buy” rating to a “hold” rating and set a $144.00 target price for the company. in a research note on Tuesday, April 12th. William Blair reiterated an “outperform” rating on shares of AGCO in a research note on Tuesday, February 8th. JPMorgan Chase & Co. boosted their price objective on AGCO from $170.00 to $178.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Finally, Morgan Stanley reduced their price objective on AGCO from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, April 18th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $149.91.

About AGCO (Get Rating)

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.

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Dividend History for AGCO (NYSE:AGCO)

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