Principal Financial Group Inc. lifted its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 28.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 684,249 shares of the industrial products company's stock after acquiring an additional 150,656 shares during the quarter. Principal Financial Group Inc. owned 0.92% of AGCO worth $66,959,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its position in shares of AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 174 shares during the last quarter. LRI Investments LLC raised its stake in shares of AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 165 shares during the period. Raymond James Trust N.A. grew its stake in shares of AGCO by 2.9% in the second quarter. Raymond James Trust N.A. now owns 5,756 shares of the industrial products company's stock valued at $563,000 after buying an additional 163 shares in the last quarter. Pegasus Asset Management Inc. raised its holdings in shares of AGCO by 2.0% during the 2nd quarter. Pegasus Asset Management Inc. now owns 29,625 shares of the industrial products company's stock valued at $2,900,000 after buying an additional 573 shares during the period. Finally, Summit Securities Group LLC acquired a new position in AGCO during the 2nd quarter worth approximately $147,000. 78.80% of the stock is owned by hedge funds and other institutional investors.
AGCO Price Performance
Shares of NYSE AGCO traded up $2.95 during mid-day trading on Friday, reaching $93.50. The company had a trading volume of 5,205,419 shares, compared to its average volume of 824,795. The company has a 50-day moving average price of $97.24 and a two-hundred day moving average price of $95.91. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6.98 billion, a PE ratio of 41.37, a P/E/G ratio of 0.56 and a beta of 1.24. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26.
AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the prior year, the firm posted $3.97 EPS. The business's quarterly revenue was down 24.8% compared to the same quarter last year. On average, equities analysts anticipate that AGCO Co. will post 7.36 earnings per share for the current year.
AGCO Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, November 15th. AGCO's dividend payout ratio is presently 51.33%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on AGCO. StockNews.com upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research note on Thursday. Oppenheimer dropped their price objective on AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Citigroup increased their target price on AGCO from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, December 9th. Truist Financial lifted their price target on shares of AGCO from $110.00 to $116.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, AGCO presently has a consensus rating of "Hold" and an average price target of $108.10.
Check Out Our Latest Stock Analysis on AGCO
About AGCO
(
Free Report)
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.
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