Canada Pension Plan Investment Board Increases Position in AGCO Co. (NYSE:AGCO)

Canada Pension Plan Investment Board increased its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 276.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,400 shares of the industrial products company's stock after acquiring an additional 4,700 shares during the quarter. Canada Pension Plan Investment Board's holdings in AGCO were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of AGCO by 68.7% in the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after purchasing an additional 961,081 shares during the period. Geode Capital Management LLC boosted its position in AGCO by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,234,326 shares of the industrial products company's stock valued at $120,172,000 after acquiring an additional 29,099 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of AGCO by 21.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 758,236 shares of the industrial products company's stock worth $70,880,000 after acquiring an additional 134,651 shares during the period. Principal Financial Group Inc. raised its position in shares of AGCO by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company's stock worth $66,536,000 after acquiring an additional 27,438 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of AGCO by 23.6% in the 4th quarter. Bank of New York Mellon Corp now owns 699,435 shares of the industrial products company's stock valued at $65,383,000 after purchasing an additional 133,492 shares during the period. Institutional investors own 78.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AGCO. Robert W. Baird downgraded AGCO from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. Oppenheimer lowered their price target on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 15th. Baird R W lowered shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Morgan Stanley cut AGCO from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $94.00 to $75.00 in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.80.

AGCO Stock Performance

AGCO traded down $0.55 during midday trading on Wednesday, hitting $84.68. 716,979 shares of the company traded hands, compared to its average volume of 895,059. The company's 50-day moving average is $89.93 and its 200 day moving average is $94.98. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $6.32 billion, a PE ratio of -14.88, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $119.71.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data 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%. On average, research analysts expect that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

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 dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is presently -20.39%.

AGCO 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.