Gateway Investment Advisers LLC Buys New Holdings in AGCO Co. (NYSE:AGCO)

Gateway Investment Advisers LLC bought a new stake in shares of AGCO Co. (NYSE:AGCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,327 shares of the industrial products company's stock, valued at approximately $311,000.

Several other large investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of AGCO by 34.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company's stock worth $206,525,000 after purchasing an additional 538,955 shares in the last quarter. State Street Corp raised its stake in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company's stock worth $193,661,000 after purchasing an additional 80,846 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of AGCO by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company's stock valued at $181,775,000 after buying an additional 66,303 shares during the last quarter. AQR Capital Management LLC grew its holdings in AGCO by 53.0% during the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company's stock worth $171,090,000 after buying an additional 605,509 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in AGCO by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company's stock valued at $121,121,000 after acquiring an additional 80,516 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

Shares of AGCO traded up $1.89 during mid-day trading on Monday, reaching $101.89. 736,712 shares of the stock traded hands, compared to its average volume of 1,002,387. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The firm has a fifty day moving average price of $95.47 and a 200 day moving average price of $94.95. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the previous year, the firm posted $3.97 EPS. The firm's revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities research analysts predict that AGCO Co. will post 7.34 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, February 14th. AGCO's payout ratio is currently 51.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AGCO shares. Citigroup reduced their price objective on shares of AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Oppenheimer decreased their price target on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. Truist Financial boosted their price objective on AGCO from $109.00 to $118.00 and gave the company a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group reduced their target price on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AGCO has a consensus rating of "Hold" and a consensus target price of $107.40.

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.