Ameriprise Financial Inc. Buys 199,038 Shares of AGCO Co. (NYSE:AGCO)

Ameriprise Financial Inc. grew its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 41.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 681,849 shares of the industrial products company's stock after purchasing an additional 199,038 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.91% of AGCO worth $63,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AGCO. GeoWealth Management LLC bought a new stake in shares of AGCO during the fourth quarter valued at approximately $27,000. Allworth Financial LP increased its position in AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 220 shares during the period. UMB Bank n.a. increased its position in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 154 shares during the period. Cullen Frost Bankers Inc. bought a new stake in AGCO during the 4th quarter valued at $33,000. Finally, Jones Financial Companies Lllp boosted its position in AGCO by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock worth $47,000 after acquiring an additional 265 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of recent analyst reports. UBS Group set a $106.00 price objective on shares of AGCO in a research note on Tuesday, April 22nd. Morgan Stanley boosted their price target on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday. Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $116.00 to $100.00 in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Finally, Truist Financial decreased their price target on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $102.70.

AGCO Stock Down 1.2%

NYSE:AGCO traded down $1.32 on Wednesday, hitting $104.67. 962,476 shares of the company's stock traded hands, compared to its average volume of 896,115. The company has a market cap of $7.81 billion, a PE ratio of -18.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. AGCO Co. has a 1 year low of $73.79 and a 1 year high of $119.71. 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 firm has a 50-day moving average price of $90.04 and a 200-day moving average price of $94.69.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period last year, the company posted $2.32 earnings per share. The firm's quarterly revenue was down 30.0% compared to the same quarter last year. Equities analysts anticipate that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is presently -14.87%.

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.