Public Employees Retirement System of Ohio Buys New Holdings in AGCO Co. (NYSE:AGCO)

Public Employees Retirement System of Ohio bought a new position in AGCO Co. (NYSE:AGCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,419 shares of the industrial products company's stock, valued at approximately $3,031,000.

A number of other institutional investors have also recently made changes to their positions in AGCO. CIBC Asset Management Inc raised its holdings in AGCO by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock worth $212,000 after acquiring an additional 110 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of AGCO by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock worth $580,000 after purchasing an additional 144 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of AGCO by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock worth $612,000 after purchasing an additional 145 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of AGCO by 0.8% during the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock valued at $1,721,000 after purchasing an additional 150 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of AGCO by 4.4% during the fourth quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Stock Performance

NYSE AGCO traded up $0.98 during trading hours on Tuesday, hitting $99.44. 232,959 shares of the company's stock traded hands, compared to its average volume of 890,781. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $108.76. The firm has a market capitalization of $7.42 billion, a P/E ratio of -17.48, a P/E/G ratio of 1.80 and a beta of 1.20. 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's fifty day moving average price is $92.11 and its two-hundred day moving average price is $95.50.

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

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO's payout ratio is -14.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AGCO shares. Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Oppenheimer dropped their price target on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Citigroup restated a "neutral" rating and set a $110.00 price objective on shares of AGCO in a research report on Friday. Finally, Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $104.10.

Insiders Place Their Bets

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction on 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. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.60% of the company's stock.

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.