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Fintel reports that on September 29, 2023, JP Morgan maintained coverage of AGCO (NYSE:AGCO) with a Overweight recommendation.

Analyst Price Forecast Suggests 31.28% Upside

As of August 31, 2023, the average one-year price target for AGCO is 158.61. The forecasts range from a low of 136.35 to a high of $194.25. The average price target represents an increase of 31.28% from its latest reported closing price of 120.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for AGCO is 13,257MM, a decrease of 6.49%. The projected annual non-GAAP EPS is 13.01.

AGCO Declares $0.29 Dividend

On July 12, 2023 the company declared a regular quarterly dividend of $0.29 per share ($1.16 annualized). Shareholders of record as of August 15, 2023 received the payment on September 15, 2023. Previously, the company paid $0.29 per share.

At the current share price of $120.82 / share, the stock's dividend yield is 0.96%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.80%, the lowest has been 0.42%, and the highest has been 5.94%. The standard deviation of yields is 1.68 (n=236).

The current dividend yield is 0.50 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 8.62%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1044 funds or institutions reporting positions in AGCO. This is an increase of 2 owner(s) or 0.19% in the last quarter. Average portfolio weight of all funds dedicated to AGCO is 0.31%, an increase of 3.60%. Total shares owned by institutions decreased in the last three months by 5.56% to 65,460K shares.

The put/call ratio of AGCO is 0.90, indicating a bullish outlook.

What are Other Shareholders Doing?

Lsv Asset Management holds 3,319K shares representing 4.43% ownership of the company. In it's prior filing, the firm reported owning 3,178K shares, representing an increase of 4.24%. The firm decreased its portfolio allocation in AGCO by 0.21% over the last quarter.

Victory Capital Management holds 2,441K shares representing 3.26% ownership of the company. In it's prior filing, the firm reported owning 2,434K shares, representing an increase of 0.26%. The firm decreased its portfolio allocation in AGCO by 4.99% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,978K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 1,962K shares, representing an increase of 0.85%. The firm decreased its portfolio allocation in AGCO by 9.55% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,885K shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 1,910K shares, representing a decrease of 1.34%. The firm decreased its portfolio allocation in AGCO by 8.12% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,643K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 1,660K shares, representing a decrease of 1.01%. The firm decreased its portfolio allocation in AGCO by 8.45% over the last quarter.

AGCO Background Information
(This description is provided by the company.)

GCO is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® smart farming solutions. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $9.0 billion in 2019.

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This story originally appeared on Fintel.

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