Mackenzie Financial Corp Boosts Stock Holdings in AGCO Co. (NYSE:AGCO)

Mackenzie Financial Corp raised its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 723,119 shares of the industrial products company's stock after acquiring an additional 22,687 shares during the quarter. Mackenzie Financial Corp owned about 0.97% of AGCO worth $87,794,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AGCO. Pacer Advisors Inc. boosted its position in AGCO by 7,297.1% during the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company's stock valued at $87,769,000 after acquiring an additional 713,142 shares during the last quarter. Millennium Management LLC boosted its position in AGCO by 2,102.6% during the fourth quarter. Millennium Management LLC now owns 725,961 shares of the industrial products company's stock valued at $100,684,000 after acquiring an additional 693,002 shares during the last quarter. Norges Bank bought a new stake in AGCO during the fourth quarter valued at $95,107,000. Victory Capital Management Inc. boosted its position in AGCO by 24.7% during the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company's stock valued at $359,852,000 after acquiring an additional 601,877 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in AGCO by 108.4% during the first quarter. AQR Capital Management LLC now owns 770,571 shares of the industrial products company's stock valued at $104,181,000 after acquiring an additional 400,769 shares during the last quarter. Institutional investors own 78.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on AGCO shares. Oppenheimer upped their price target on shares of AGCO from $153.00 to $154.00 and gave the company an "outperform" rating in a research report on Tuesday. Stifel Nicolaus cut their price objective on shares of AGCO from $160.00 to $153.00 and set a "buy" rating on the stock in a research report on Tuesday, December 19th. StockNews.com cut shares of AGCO from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Truist Financial initiated coverage on shares of AGCO in a research report on Thursday, March 14th. They set a "buy" rating and a $142.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of AGCO from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.50.

AGCO Stock Down 0.8 %

Shares of AGCO traded down $0.97 on Tuesday, reaching $117.07. The company's stock had a trading volume of 458,645 shares, compared to its average volume of 690,290. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. AGCO Co. has a twelve month low of $105.77 and a twelve month high of $140.46. The stock has a market capitalization of $8.74 billion, a PE ratio of 7.49, a PEG ratio of 0.69 and a beta of 1.31. The firm has a fifty day moving average of $115.57 and a 200-day moving average of $117.13.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts' consensus estimates of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company earned $4.47 EPS. The company's revenue was down 2.5% on a year-over-year basis. Equities analysts predict that AGCO Co. will post 13.03 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Wednesday, February 14th. AGCO's dividend payout ratio is currently 7.42%.

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.