Bank of America Corp DE Has $35.21 Million Holdings in AGCO Co. (NYSE:AGCO)

Bank of America Corp DE increased its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 257.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,647 shares of the industrial products company's stock after purchasing an additional 271,356 shares during the quarter. Bank of America Corp DE owned 0.50% of AGCO worth $35,209,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Barclays PLC boosted its position in AGCO by 386.8% during the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock worth $24,389,000 after purchasing an additional 198,014 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of AGCO by 96.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,473 shares of the industrial products company's stock worth $2,288,000 after buying an additional 12,031 shares during the period. Gateway Investment Advisers LLC acquired a new stake in shares of AGCO in the fourth quarter valued at about $311,000. UMB Bank n.a. raised its holdings in shares of AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock valued at $32,000 after buying an additional 154 shares during the period. Finally, Ballentine Partners LLC acquired a new position in AGCO during the 4th quarter worth approximately $245,000. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Stock Performance

NYSE AGCO traded down $1.27 during trading hours on Monday, reaching $107.16. The company's stock had a trading volume of 797,384 shares, compared to its average volume of 895,344. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $90.54 and a 200 day simple moving average of $94.84. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $110.49. The stock has a market cap of $7.99 billion, a PE ratio of -18.83, a PEG ratio of 1.80 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.38. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The business's revenue was down 30.0% on a year-over-year basis. During the same quarter last year, the business posted $2.32 EPS. Equities research analysts predict that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 annualized dividend and a yield of 1.08%. AGCO's dividend payout ratio is presently -14.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup boosted their target price on shares of AGCO from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. UBS Group set a $106.00 price objective on shares of AGCO in a research report on Tuesday, April 22nd. Morgan Stanley raised their target price on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Truist Financial cut their price target on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Oppenheimer lowered their price objective on AGCO from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $103.30.

Insider Buying and Selling at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the sale, the senior vice president now directly owns 17,380 shares in the company, valued at $1,845,408.40. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is currently owned by company insiders.

About AGCO

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.