Raymond James Financial Inc. Invests $16.85 Million in AGCO Co. (NYSE:AGCO)

Raymond James Financial Inc. acquired a new position in AGCO Co. (NYSE:AGCO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 180,200 shares of the industrial products company's stock, valued at approximately $16,845,000. Raymond James Financial Inc. owned 0.24% of AGCO as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Invesco Ltd. boosted its position in shares of AGCO by 68.7% in the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock valued at $220,641,000 after acquiring an additional 961,081 shares during the period. Geode Capital Management LLC boosted its holdings in AGCO by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,234,326 shares of the industrial products company's stock valued at $120,172,000 after purchasing an additional 29,099 shares during the period. Royal London Asset Management Ltd. grew its position in AGCO by 21.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 758,236 shares of the industrial products company's stock worth $70,880,000 after purchasing an additional 134,651 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of AGCO by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company's stock worth $66,536,000 after purchasing an additional 27,438 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of AGCO by 23.6% during the 4th quarter. Bank of New York Mellon Corp now owns 699,435 shares of the industrial products company's stock worth $65,383,000 after purchasing an additional 133,492 shares during the period. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Price Performance

Shares of NYSE AGCO traded down $0.87 during mid-day trading on Friday, hitting $84.87. 136,102 shares of the stock were exchanged, compared to its average volume of 890,932. The company has a market cap of $6.33 billion, a P/E ratio of -14.88, a PEG ratio of 1.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO Co. has a twelve month low of $73.79 and a twelve month high of $119.88. The stock's fifty day simple moving average is $90.98 and its two-hundred day simple moving average is $95.26.

AGCO (NYSE:AGCO - Get Free Report) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, analysts forecast that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.37%. AGCO's dividend payout ratio is presently -20.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AGCO shares. Oppenheimer decreased their target price on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday. Robert W. Baird lowered AGCO from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. Truist Financial cut their target price on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley downgraded shares of AGCO from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $94.00 to $75.00 in a research note on Wednesday, April 16th. Finally, UBS Group set a $106.00 price target on shares of AGCO in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $99.80.

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.