Spire Wealth Management Increases Stake in AGCO Co. (NYSE:AGCO)

Spire Wealth Management raised its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 6,533.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,825 shares of the industrial products company's stock after purchasing an additional 47,104 shares during the quarter. Spire Wealth Management owned 0.06% of AGCO worth $5,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Gallacher Capital Management LLC bought a new stake in AGCO during the fourth quarter valued at approximately $409,000. Axxcess Wealth Management LLC bought a new stake in shares of AGCO in the 4th quarter worth approximately $220,000. M&T Bank Corp lifted its holdings in shares of AGCO by 121.3% in the 4th quarter. M&T Bank Corp now owns 6,644 shares of the industrial products company's stock worth $806,000 after acquiring an additional 3,642 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of AGCO by 28.3% in the 4th quarter. Great Valley Advisor Group Inc. now owns 22,379 shares of the industrial products company's stock worth $2,717,000 after acquiring an additional 4,931 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of AGCO by 0.6% in the 4th quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company's stock worth $371,586,000 after acquiring an additional 18,209 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Up 3.3 %

Shares of NYSE AGCO traded up $3.68 during mid-day trading on Monday, hitting $115.49. The stock had a trading volume of 985,802 shares, compared to its average volume of 715,732. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. AGCO Co. has a 1 year low of $105.77 and a 1 year high of $140.46. The business has a 50 day moving average price of $116.77 and a two-hundred day moving average price of $116.88. The firm has a market cap of $8.62 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm earned $3.51 earnings per share. The firm's revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities analysts anticipate that AGCO Co. will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Tuesday, May 14th. AGCO's payout ratio is currently 7.85%.

Analyst Ratings Changes

AGCO has been the subject of a number of recent research reports. Oppenheimer lowered their price objective on shares of AGCO from $154.00 to $145.00 and set an "outperform" rating for the company in a report on Friday. StockNews.com lowered shares of AGCO from a "buy" rating to a "hold" rating in a report on Friday, February 9th. JPMorgan Chase & Co. lowered their price objective on shares of AGCO from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Friday. Finally, Truist Financial lowered their price objective on shares of AGCO from $142.00 to $137.00 and set a "buy" rating for the company in a report on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.83.

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.