Principal Financial Group Inc. Has $68.69 Million Stock Position in AGCO Corporation (NYSE:AGCO)

Principal Financial Group Inc. raised its holdings in AGCO Corporation (NYSE:AGCO - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 742,044 shares of the industrial products company's stock after acquiring an additional 30,357 shares during the quarter. Principal Financial Group Inc. owned 0.99% of AGCO worth $68,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AGCO. GeoWealth Management LLC purchased a new position in AGCO in the 4th quarter worth about $27,000. Citizens National Bank Trust Department increased its stake in AGCO by 400.0% in the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in AGCO in the 4th quarter worth about $33,000. Jones Financial Companies Lllp increased its stake in AGCO by 112.3% in the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock worth $47,000 after purchasing an additional 265 shares in the last quarter. Finally, Abound Wealth Management purchased a new position in AGCO in the 1st quarter worth about $56,000. Institutional investors own 78.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AGCO. Truist Financial dropped their target price on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. increased their target price on shares of AGCO from $110.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. The Goldman Sachs Group boosted their price target on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Morgan Stanley upped their price target on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $104.10.

AGCO Stock Down 1.0%

Shares of AGCO stock traded down $1.10 during trading on Monday, hitting $108.60. 604,773 shares of the stock traded hands, compared to its average volume of 885,646. The stock has a market cap of $8.10 billion, a P/E ratio of 19.62, a PEG ratio of 1.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.53. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $111.69. The company has a fifty day moving average price of $101.43 and a two-hundred day moving average price of $96.51.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 10.60% and a negative net margin of 5.40%. The business 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 business earned $2.32 EPS. The firm's revenue was down 30.0% compared to the same quarter last year. Equities research analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, May 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, May 15th. AGCO's payout ratio is -14.87%.

Insider Buying and Selling at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the transaction, the senior vice president directly owned 17,380 shares of the company's stock, valued at approximately $1,845,408.40. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.90% of the company's stock.

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.