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DULUTH, Ga. - AGCO Corporation (NYSE: AGCO), known for its agricultural machinery and precision ag technology, has declared a quarterly dividend of $0.29 per common share, representing a 3.76% yield. The dividend is scheduled for payment on March 14, 2025, to stockholders of record by the close of business on February 14, 2025. According to InvestingPro data, AGCO has maintained consistent dividend payments for 12 consecutive years.
The company, with a portfolio of recognized brands such as Fendt®, Massey Ferguson®, PTx, and Valtra®, provides a range of equipment and services that support sustainable farming practices. AGCO's commitment to innovation in the agricultural sector is reflected in its product offerings and smart farming solutions.
In the previous year, AGCO reported net sales of approximately $14.4 billion, underscoring its position in the global agricultural market. The company, established in 1990 and headquartered in Duluth, Georgia, continues to deliver value to farmers and OEM customers, aiding in the global effort to sustainably feed the population.
This announcement of the dividend payment follows AGCO's regular practice of rewarding its shareholders and reflects the company's financial health and consistent performance. It is based on a press release statement from AGCO Corporation.
In other recent news, AGCO Corporation has seen revised financial outlooks from several analyst firms, including Truist Securities, Baird, Bernstein SocGen Group, and Morgan Stanley (NYSE:MS). Truist Securities has maintained its Buy rating on AGCO, despite lowering its price target from $116 to $109 and trimming its earnings per share (EPS) predictions for fiscal years 2025 and 2026. Similarly, Baird has kept its Outperform rating, though it reduced the price target from $127 to $119. Bernstein SocGen Group maintained its Market Perform rating and raised its price target from $87 to $97. Morgan Stanley initiated coverage on AGCO with an Equalweight rating and a price target of $101.
These recent developments follow AGCO's announcement of its adjusted EPS for 2025, expected to fall between $4.00 and $4.50, with net sales around $9.6 billion. The company also plans a 15% to 20% reduction in production hours for fiscal year 2025, primarily in the first half of the year. Despite these projections, AGCO has not revised its fourth-quarter 2024 guidance.
In addition to these financial forecasts, AGCO has announced changes to its executive compensation structure, extending eligibility to higher-ranking U.S.-based employees and introducing new contribution rates. This move reflects AGCO's efforts to adapt its compensation strategies to the evolving corporate landscape and the needs of its executive workforce.
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