Occudo Quantitative Strategies LP Raises Stake in AGCO Co. (NYSE:AGCO)

Occudo Quantitative Strategies LP grew its position in AGCO Co. (NYSE:AGCO - Free Report) by 173.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,229 shares of the industrial products company's stock after buying an additional 7,123 shares during the period. Occudo Quantitative Strategies LP's holdings in AGCO were worth $1,050,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AGCO. Price T Rowe Associates Inc. MD lifted its holdings in shares of AGCO by 128.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after acquiring an additional 3,654,350 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of AGCO by 68.7% in the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after acquiring an additional 961,081 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of AGCO in the 4th quarter worth approximately $62,022,000. Norges Bank acquired a new position in shares of AGCO in the 4th quarter worth approximately $57,321,000. Finally, Edge Capital Group LLC acquired a new position in shares of AGCO in the 4th quarter worth approximately $39,269,000. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Stock Up 2.7%

Shares of AGCO traded up $2.83 during midday trading on Friday, reaching $108.54. The stock had a trading volume of 782,049 shares, compared to its average volume of 895,650. AGCO Co. has a 1-year low of $73.79 and a 1-year high of $111.53. The company's fifty day simple moving average is $90.54 and its two-hundred day simple moving average is $94.92. The company has a market cap of $8.10 billion, a price-to-earnings ratio of -19.08, a PEG ratio of 1.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the business earned $2.32 EPS. The company's revenue was down 30.0% on a year-over-year basis. Equities research analysts expect that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 dividend yield of 1.07%. The ex-dividend date is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is -14.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AGCO shares. Truist Financial decreased their price objective on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded shares of AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Baird R W lowered shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup increased their target price on shares of AGCO from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, UBS Group set a $106.00 target price on shares of AGCO in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $103.30.

Insider Activity at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the transaction, the senior vice president now directly owns 17,380 shares of the company's stock, valued at $1,845,408.40. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.90% of the company's stock.

About AGCO

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.