Price T Rowe Associates Inc. MD lifted its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 128.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,504,328 shares of the industrial products company's stock after purchasing an additional 3,654,350 shares during the period. Price T Rowe Associates Inc. MD owned 8.71% of AGCO worth $608,026,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock valued at $30,000 after buying an additional 220 shares in the last quarter. GeoWealth Management LLC purchased a new stake in shares of AGCO during the fourth quarter worth $27,000. UMB Bank n.a. boosted its holdings in shares of AGCO by 84.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock worth $32,000 after acquiring an additional 154 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of AGCO in the fourth quarter worth $33,000. Finally, Jones Financial Companies Lllp grew its position in shares of AGCO by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 78.80% of the company's stock.
Analyst Ratings Changes
AGCO has been the subject of several analyst reports. UBS Group set a $106.00 target price on AGCO in a research note on Tuesday, April 22nd. Truist Financial reduced their price objective on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley cut shares of AGCO from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $94.00 to $75.00 in a research note on Wednesday, April 16th. Baird R W lowered shares of AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their target price on AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $99.80.
Check Out Our Latest Analysis on AGCO
AGCO Trading Down 1.6 %
NYSE:AGCO traded down $1.38 during trading hours on Wednesday, reaching $83.86. The company's stock had a trading volume of 127,868 shares, compared to its average volume of 892,832. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of -14.74, a PEG ratio of 1.80 and a beta of 1.16. The firm has a 50-day simple moving average of $90.27 and a 200-day simple moving average of $95.05. AGCO Co. has a 1 year low of $73.79 and a 1 year high of $119.71.
AGCO (NYSE:AGCO - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. Research analysts expect that AGCO Co. will post 4.2 EPS for the current fiscal year.
AGCO Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO's payout ratio is -20.39%.
About AGCO
(
Free Report)
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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