AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers high 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. The company also provides grain storage bins and related drying and handling equipment systems; seed-processing systems; swine and poultry feed storage and delivery; ventilation and watering systems; and egg production systems and broiler production equipment. In addition, it offers round and rectangular balers, loader wagons, self-propelled windrowers, forage harvesters, disc mowers, spreaders, rakes, tedders, and mower conditioners for harvesting and packaging vegetative feeds used in the beef cattle, dairy, horse, and renewable fuel industries. Further, the company provides implements, including disc harrows leveling seed beds and mixing chemicals with the soils; heavy tillage to break up soil and mix crop residue into topsoil; field cultivators that prepare smooth seed bed and destroy weeds; drills for small grain seeding; planters and other planting equipment; and loaders. Additionally, it offers combines for harvesting grain crops, such as corn, wheat, soybeans, and rice; and application equipment, such as self-propelled, three- and four-wheeled vehicles, and related equipment for liquid and dry fertilizers and crop protection chemicals, and for after crops emerge from the ground, as well as produces diesel engines, gears, and generating sets. The company markets its products under the Challenger, Fendt, GSI, Massey Ferguson, and Valtra brands through a network of independent dealers and distributors. AGCO Corporation was founded in 1990 and is headquartered in Duluth, Georgia.
IPO Year:
Exchange: NYSE
Website: agcocorp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/9/2024 | $96.00 | Market Perform | BMO Capital Markets |
| 6/28/2024 | Mkt Perform | Raymond James | |
| 6/26/2024 | $108.00 | Neutral | Citigroup |
| 3/14/2024 | $142.00 | Buy | Truist |
| 4/3/2023 | $149.00 → $135.00 | Buy → Neutral | Goldman |
| 12/22/2022 | $143.00 → $174.00 | Outperform | Credit Suisse |
| 9/28/2022 | $156.00 | Outperform | Robert W. Baird |
| 6/23/2022 | $160.00 → $129.00 | Overweight → Equal-Weight | Morgan Stanley |
| 3/11/2022 | $175.00 | Overweight | Wells Fargo |
| 2/9/2022 | $157.00 → $165.00 | Overweight | Morgan Stanley |
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Net sales of $2.6 billion, down 24.8% year-over-yearReported earnings per share of $0.40 and adjusted earnings per share(1) of $0.68Reaffirms full-year adjusted operating margin target of 9%Revised 2024 sales and earnings per share outlook reflects the Grain and Protein divestitureDULUTH, Ga., Nov. 5, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported net sales of $2.6 billion for the third quarter ended September 30, 2024, a decrease of 24.8% compared to the third quarter of 2023. Reported net income was $0.40 per share for the third quarter of 2024 and adjusted net income(1) was
Funds Will Support Georgia's Farmers Recovering from Hurricane Helene's Devastating Impact DULUTH, Ga., Nov. 4, 2024 /PRNewswire/ -- AGCO Agriculture Foundation (the "Foundation"), a private foundation with the vision to prevent and relieve hunger through sustainable agricultural development, donated USD $50,000 to the Georgia Foundation for Agriculture to support the Weathered But Strong: Hurricane Relief Fund. This relief fund initiative, led by over 40 of Georgia's top agricultural organizations, including the Georgia Agribusiness Council and the Georgia Department of Agriculture, is dedicated to helping farmers recover from the severe damage caused by Hurricane Helene.
Rebranded Grain & Protein Technologies, the new standalone entity will be led by accomplished industrial manufacturing leader Jacob Thomas NEW YORK and DULUTH, Ga., Nov. 1, 2024 /PRNewswire/ -- American Industrial Partners ("AIP"), an industrials investor, today announced the completion of its acquisition of AGCO Corporation's (NYSE:AGCO) Grain & Protein division, which produces grain storage and seed processing solutions as well as feeding, watering, climate management and control systems for worldwide protein production, principally poultry, swine, and egg. In conjunction with the transaction close, it was announced that the new standalone, privately held business will now operate under th
DULUTH, Ga., Nov. 1, 2024 /PRNewswire/ -- AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, has completed the previously announced divestiture of the majority of its Grain & Protein business to American Industrial Partners ("AIP") effective November 1, 2024, in an all-cash transaction valued at approximately $700 million. "Divesting of Grain & Protein is a significant milestone in AGCO's strategic transformation, accelerated by the PTx Trimble joint venture, which was completed in A
DULUTH, Ga., Oct. 24, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on December 16, 2024, to all stockholders of record as of the close of business November 15, 2024. About AGCO AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers
DULUTH, Ga., Oct. 14, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today its third-quarter 2024 earnings release conference call is scheduled for Tuesday, November 5 at 10 a.m. ET. The company will refer to slides on its conference call. Interested persons can access the conference call and slide presentation via AGCO's website at www.agcocorp.com under the "Investors" Section. The webcast will also be archived for 12 months immediately afterward. About AGCO A
DULUTH, Ga., Oct. 3, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, is pleased to announce the launch of the AGCO Employee Relief Fund. Underscoring AGCO's commitment to enhancing its employee health and wellbeing offerings, the fund provides rapid assistance in the wake of significant crisis events such as natural disasters. "We were inspired to launch the AGCO Employee Relief Fund following the devastating floods in the Rio Grande do Sul region of Brazil, where hundreds
Highlights TAFE's integral role in building the Massey Ferguson brand in India over the last six decades Believes AGCO's recent attempt to terminate TAFE's right to use the Massey Ferguson brand in India violates the interim status quo order of the Commercial Court in Chennai Questions the timing of AGCO's decision to terminate its long-standing partnership with TAFE after TAFE raised concerns regarding AGCO's strategy and performance in its capacity as a long-term, strategic shareholder Tractors and Farm Equipment Limited ("TAFE" or "we") today announced that it has filed a contempt petition against AGCO Corporation (NYSE:AGCO) ("AGCO" or the "Company") for violating an interim stat
DULUTH, Ga., Sept. 30, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today issued the following statement in response to the letter issued by Tractors and Farm Equipment Limited ("TAFE"): TAFE's interests are fundamentally misaligned with AGCO shareholders, and its letter today is just the latest tactic in its ongoing, self-serving campaign. In fact, TAFE's letter was issued shortly after (i) AGCO prevailed at the Indian Supreme Court against TAFE's efforts to avoid arbi
Believes Shareholder-Driven Changes to AGCO's Board and Strategy are Necessary Following Strategic Missteps and Execution Issues That Have Led to a Loss of Significant Market Share Reiterates TAFE's Commitment to Unlocking AGCO's Full Potential as a Long-Term, Strategic Investor That is Firmly Aligned With Fellow Shareholders Tractors and Farm Equipment Limited (together with certain of its affiliates, "TAFE" or "we"), is the largest shareholder of AGCO Corporation (NYSE:AGCO) ("AGCO" or the "Company") with a 16.3% long-term strategic ownership interest in the Company. Today, TAFE issued the following open letter to its fellow shareholders. *** September 30, 2024 Fellow Shareholders,
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Net sales of $2.6 billion, down 24.8% year-over-yearReported earnings per share of $0.40 and adjusted earnings per share(1) of $0.68Reaffirms full-year adjusted operating margin target of 9%Revised 2024 sales and earnings per share outlook reflects the Grain and Protein divestitureDULUTH, Ga., Nov. 5, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported net sales of $2.6 billion for the third quarter ended September 30, 2024, a decrease of 24.8% compared to the third quarter of 2023. Reported net income was $0.40 per share for the third quarter of 2024 and adjusted net income(1) was
DULUTH, Ga., Oct. 24, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on December 16, 2024, to all stockholders of record as of the close of business November 15, 2024. About AGCO AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers
DULUTH, Ga., Oct. 14, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today its third-quarter 2024 earnings release conference call is scheduled for Tuesday, November 5 at 10 a.m. ET. The company will refer to slides on its conference call. Interested persons can access the conference call and slide presentation via AGCO's website at www.agcocorp.com under the "Investors" Section. The webcast will also be archived for 12 months immediately afterward. About AGCO A
Believes Shareholder-Driven Changes to AGCO's Board and Strategy are Necessary Following Strategic Missteps and Execution Issues That Have Led to a Loss of Significant Market Share Reiterates TAFE's Commitment to Unlocking AGCO's Full Potential as a Long-Term, Strategic Investor That is Firmly Aligned With Fellow Shareholders Tractors and Farm Equipment Limited (together with certain of its affiliates, "TAFE" or "we"), is the largest shareholder of AGCO Corporation (NYSE:AGCO) ("AGCO" or the "Company") with a 16.3% long-term strategic ownership interest in the Company. Today, TAFE issued the following open letter to its fellow shareholders. *** September 30, 2024 Fellow Shareholders,
Reiterates confidence in company's Board and management team to execute Farmer-First strategy; Challenges TAFE's self-serving campaign DULUTH, Ga., Aug. 7, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today issued the following statement in response to TAFE's amended 13D filing: AGCO maintains an open dialogue with all stockholders and welcomes constructive input toward the shared goal of maximizing stockholder value. The Board of Directors is committed to acting in the
Net sales of $3.2 billion, down 15.1% year-over-yearReported earnings per share of $(4.92) and adjusted earnings per share(1) of $2.532024 sales and earnings outlook lowered in response to further softening market conditionsAgreement to divest the Grain & Protein business announced on July 25, 2024DULUTH, Ga., July 30, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported net sales of $3.2 billion for the second quarter ended June 30, 2024, a decrease of 15.1% compared to the second quarter of 2023. Reported net loss was $(4.92) per share for the second quarter of 2024, which includes
DULUTH, Ga., July 11, 2024 /PRNewswire/ -- AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today that its Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on September 16, 2024, to all stockholders of record as of the close of business August 15, 2024. About AGCO: AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM cus
DULUTH, Ga., July 10, 2024 /PRNewswire/ -- AGCO, (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today its second-quarter 2024 earnings release conference call is scheduled for Tuesday, July 30 at 10 a.m. ET. The company will refer to slides on its conference call. Interested persons can access the conference call and slide presentation via AGCO's website at www.agcocorp.com under the "Investors" Section. The webcast will also be archived for 12 months immediately afterward. About AGCO: A
Net sales of $2.9 billion, down 12.1%Reported earnings per share of $2.25 and adjusted earnings per share(1) of $2.32Closed the previously announced joint venture transaction, PTx Trimble, on April 1Announced variable special dividend of $2.50 per share on April 25DULUTH, Ga., May 2, 2024 /PRNewswire/ -- AGCO, (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported net sales of $2.9 billion for the first quarter ended March 31, 2024, a decrease of 12.1% compared to the first quarter of 2023. Reported net income was $2.25 per share for the first quarter of 2024, and adjusted net income(1) was $2.32 per share. The
Special Variable Dividend of $2.50 per shareRegular Quarterly Dividend of $0.29 per share DULUTH, Ga., April 25, 2024 /PRNewswire/ -- AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today that its Board of Directors declared a special variable dividend in the amount of $2.50 per share and a regular quarterly dividend of $0.29 per outstanding share. The special variable dividend will be payable on June 20, 2024, to shareholders of record at the close of business on May 20,
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AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced it has entered into a definitive agreement to sell the majority of its Grain & Protein business to American Industrial Partners ("AIP") in an all-cash transaction valued at $700 million, subject to working capital and other customary closing adjustments.
Oppenheimer analyst Kristen Owen maintains AGCO (NYSE:AGCO) with a Outperform and lowers the price target from $133 to $132.
Ratings for AGCO (NYSE:AGCO) were provided by 8 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 4 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 1 2 0 0 2M Ago 0 1 0 0 0 3M Ago 1 2 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $126.25, a high estimate of $145.00, and a low estimate of $108.00. Highlighting a 11.45% decrease, the
Barclays analyst Adam Seiden maintains AGCO (NYSE:AGCO) with a Equal-Weight and lowers the price target from $145 to $110.
Goldman Sachs analyst Jerry Revich maintains AGCO (NYSE:AGCO) with a Neutral and lowers the price target from $127 to $112.
Avian influenza, also known as bird flu, has public health officials on alert after it spread to an unprecedented number of cows in the U.S. this year and led to positive tests of the virus in four U.S. dairy workers so far this year. A severe variant of the H5N1 strain infected animals ranging from alpacas to house cats worldwide since 2020 and caused lethal outbreaks in commercial poultry, but this is the first year it has infected cows, Reuters reported. Humans have contracted different bird flu strains in Australia and Mexico, while different H5 subtypes have also shown up in other parts of the world including China and Cambodia. Most of the human cases have come from exposure t
AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, and its subsidiary AGCO Power, today announced the opening of the company’s first clean energy laboratory. The lab is part of a 70-million-euro investment (approximately $77 million) in the Linnavuori plant in Nokia, and will support development and testing of innovative, sustainable battery and powertrain solutions for farm machinery. “It is exciting to know those investments will start showing tangible results this summer when the first fully electric tractor, the Fendt e100 V Vario, enters production in 2024. “ ” Post this The Linnavuori team of scientist
JP Morgan analyst Ann Duignan maintains AGCO (NYSE:AGCO) with a Overweight and lowers the price target from $135 to $130.
AGCO (NYSE:AGCO) has been analyzed by 7 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 5 1 0 0 Last 30D 0 0 0 0 0 1M Ago 0 1 1 0 0 2M Ago 1 2 0 0 0 3M Ago 0 2 0 0 0 Analysts have recently evaluated AGCO and provided 12-month price targets. The average target is $137.43, accompanied by a high estimate of $154.00 and a low estimate of $108.00. This current average represents a 7.25%
Raymond James analyst Tim Thein initiates coverage on AGCO (NYSE:AGCO) with a Market Perform rating.
BMO Capital Markets initiated coverage of AGCO Corp with a rating of Market Perform and set a new price target of $96.00
Raymond James initiated coverage of AGCO Corp with a rating of Mkt Perform
Citigroup initiated coverage of AGCO Corp with a rating of Neutral and set a new price target of $108.00
Truist initiated coverage of AGCO Corp with a rating of Buy and set a new price target of $142.00
Goldman downgraded AGCO Corp from Buy to Neutral and set a new price target of $135.00 from $149.00 previously
Credit Suisse reiterated coverage of AGCO Corp with a rating of Outperform and set a new price target of $174.00 from $143.00 previously
Robert W. Baird initiated coverage of AGCO Corp with a rating of Outperform and set a new price target of $156.00
Morgan Stanley downgraded AGCO Corp from Overweight to Equal-Weight and set a new price target of $129.00 from $160.00 previously
Wells Fargo initiated coverage of AGCO with a rating of Overweight and set a new price target of $175.00
Morgan Stanley reiterated coverage of AGCO with a rating of Overweight and set a new price target of $165.00 from $157.00 previously
DULUTH, Ga., June 4, 2024 /PRNewswire/ -- AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology today welcomed the announcement of Parallel Ag's merger with the A.C. McCartney Equipment dealership in Illinois, including all five of its locations in Carthage, Durand, Fulton, Mt. Sterling and Wataga. All Illinois locations will continue to operate under the A.C. McCartney Equipment name and maintain existing leadership and staff for seamless continuity of sales and services to customers. The merger will provide AGCO's full lineup of popular brands and equipment, including Fendt® and Massey Ferguson®, thro
Acquisition of Rensselaer location and commitment to open a fifth Indiana store will expand Plevna sales and services across northern Indiana. AGCO Corporation (NYSE:AGCO), a global leader in the design, manufacture, and distribution of agricultural machinery and precision ag technology, welcomed Plevna Implement's expansion into western Indiana with its recent announcement that it will purchase MacAllister Machinery's store in Rensselaer, Indiana, and has committed to opening a fifth Indiana store at a soon-to-be-announced location for coverage across much of the northern half of the state. All Plevna locations will provide Indiana farmers with full-line sales and service of AGCO's fast-
Hans-Bernd Veltmaat to retire as Chief Supply Chain Officer Tim Millwood appointed Chief Supply Chain Officer effective August 15, 2022 AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, announced today that its Board of Directors has appointed Tim Millwood to succeed Hans-Bernd Veltmaat as Senior Vice President and Chief Supply Chain Officer effective August 15, 2022. Mr. Millwood joins AGCO following a more than thirty-year career at Cummins Inc (NYSE:CMI), a global power technology leader, where he most recently served as Vice President, Global Manufacturing. Hans-Bernd Veltmaat ha
Andy Beck to retire as Chief Financial Officer Damon Audia appointed Chief Financial Officer effective July 1, 2022 AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, announced today that its Board of Directors has appointed Damon Audia to succeed Andy Beck as Senior Vice President and Chief Financial Officer (CFO) effective July 1, 2022. Mr. Audia joins AGCO from Kennametal Inc. (NYSE:KMT), an industrial technology leader specializing in tooling and wear-resistant solutions, where he served as the CFO since August 2018. Andy Beck will retire from AGCO in early 2023. He will serve as S
AGCO, Your Agriculture Company, (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today the election of David Sagehorn to its Board of Directors effective March 15, 2022. "We are pleased to have Dave join our Board," said Eric Hansotia, Chairman, President and CEO of AGCO Corporation. "His wealth of knowledge, financial expertise and his extensive experience in a company that produces technology-rich vehicles will be invaluable as we continue to evolve AGCO's smart solutions for our farmer customers. He will provide an important perspective and contribution to our Board." George Benson is retiring from
AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural machinery and precision ag technology, announced today the election of Niels Pörksen to its Board of Directors effective October 21, 2021. "We are delighted to have Niels join our Board," said Eric Hansotia, Chairman, President and CEO of AGCO Corporation. "His European experience and wealth of knowledge in the global agricultural industry will be invaluable as we continue to evolve AGCO's smart solutions for our farmer customers. He will provide an important perspective and contribution to our Board." Roy Armes is retiring from the Board of Directors effective October 21, 2021. "Roy has m
VANCOUVER, BC, Aug. 5, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ:BLDP) (TSX:BLDP) today announced that, effective August 5, 2021, the Company has appointed Mr. Hubertus Muehlhaeuser to the Company's Board of Directors. Mr. Jim Roche, Chairman of Ballard's Board of Directors said, "We continue to ensure a strong matrix of diverse and complementary skills and experiences on our Board. Hubertus brings a strong background in industrial manufacturing, including commercial vehicles, construction machinery, agricultural machinery, and powertrain technologies. His distinguis
DULUTH, Ga.--(BUSINESS WIRE)--AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and solutions, today commented in response to Tractors and Farm Equipment Limited’s (“TAFE”) recent Schedule 13D/A filing with the Securities and Exchange Commission. TAFE is a commercial partner of the Company and shareholder, whose Chairman and Managing Director, Ms. Srinivasan, serves as a non-independent director on the Company’s Board of Directors. TAFE’s Schedule 13D/A filing contains a letter to the Board making a number of misleading statements about the Company’s business, ongoing corporate governance enhancements and significant Board
DULUTH, Ga.--(BUSINESS WIRE)--AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced today the election of Matthew Tsien to its Board of Directors effective January 22, 2021. “We are delighted to have Matthew join our Board,” said Eric Hansotia, Chairman, President and CEO of AGCO Corporation. “His wealth of knowledge and experience with technology and product development will be invaluable as we continue to evolve AGCO’s smart solutions for our farmer customers. He will provide an important perspective and contribution to our board.” Mr. Tsien, who is 60, is Executive Vice President, Chief Technology Officer at