Northern Trust Corp Increases Stake in AGCO Co. (NYSE:AGCO)

Northern Trust Corp increased its stake in AGCO Co. (NYSE:AGCO - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 557,301 shares of the industrial products company's stock after purchasing an additional 119,789 shares during the quarter. Northern Trust Corp owned approximately 0.75% of AGCO worth $52,096,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

AGCO has been the topic of several recent analyst reports. Oppenheimer decreased their price objective on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group set a $106.00 price target on AGCO in a report on Tuesday, April 22nd. Morgan Stanley lowered AGCO from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $94.00 to $75.00 in a research note on Wednesday, April 16th. Citigroup lifted their target price on AGCO from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird downgraded AGCO from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AGCO presently has a consensus rating of "Hold" and an average price target of $101.80.

AGCO Price Performance

Shares of NYSE AGCO traded up $1.32 during mid-day trading on Friday, hitting $99.41. 745,206 shares of the company's stock traded hands, compared to its average volume of 894,165. AGCO Co. has a 1 year low of $73.79 and a 1 year high of $119.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The company's 50-day moving average is $89.76 and its two-hundred day moving average is $94.69. The company has a market capitalization of $7.41 billion, a P/E ratio of -17.47, a PEG ratio of 1.80 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (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 firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $2.32 EPS. The business's revenue was down 30.0% on a year-over-year basis. On average, equities analysts anticipate that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is presently -14.87%.

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.