The Manufacturers Life Insurance Company Purchases 32,935 Shares of AGCO Co. (NYSE:AGCO)

The Manufacturers Life Insurance Company grew its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,809 shares of the industrial products company's stock after acquiring an additional 32,935 shares during the period. The Manufacturers Life Insurance Company owned about 0.17% of AGCO worth $12,041,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its position in shares of AGCO by 386.8% in the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock worth $24,389,000 after buying an additional 198,014 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of AGCO during the 3rd quarter valued at approximately $52,000. Principal Financial Group Inc. grew its holdings in AGCO by 28.2% during the 3rd quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company's stock worth $66,959,000 after acquiring an additional 150,656 shares in the last quarter. GAMMA Investing LLC raised its stake in AGCO by 174.7% during the fourth quarter. GAMMA Investing LLC now owns 544 shares of the industrial products company's stock valued at $51,000 after buying an additional 346 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in AGCO during the fourth quarter worth $236,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AGCO shares. JPMorgan Chase & Co. boosted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, January 15th. Baird R W cut AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. StockNews.com raised shares of AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Citigroup upped their target price on AGCO from $90.00 to $110.00 and gave the company a "buy" rating in a report on Monday. Finally, Robert W. Baird cut AGCO from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. One 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $101.80.

AGCO Stock Performance

AGCO stock traded up $0.05 during trading hours on Wednesday, hitting $94.40. The company had a trading volume of 921,728 shares, compared to its average volume of 892,055. The firm has a 50-day moving average of $89.45 and a 200 day moving average of $94.72. The firm has a market cap of $7.04 billion, a PE ratio of -16.59, a PEG ratio of 1.80 and a beta of 1.20. AGCO Co. has a one year low of $73.79 and a one year high of $119.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

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

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 15th. AGCO's payout ratio is -14.87%.

AGCO Company Profile

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.