Bank of New York Mellon Corp Has $65.38 Million Stock Holdings in AGCO Co. (NYSE:AGCO)

Bank of New York Mellon Corp lifted its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 699,435 shares of the industrial products company's stock after purchasing an additional 133,492 shares during the period. Bank of New York Mellon Corp owned about 0.94% of AGCO worth $65,383,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc increased its stake in AGCO by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock valued at $212,000 after purchasing an additional 110 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company's stock valued at $51,000 after buying an additional 117 shares during the period. Inspire Investing LLC grew its position in shares of AGCO by 2.8% during the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company's stock valued at $402,000 after buying an additional 118 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in AGCO by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company's stock worth $1,666,000 after acquiring an additional 126 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after acquiring an additional 139 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

Shares of NYSE:AGCO traded up $2.74 during trading on Wednesday, reaching $91.56. The company had a trading volume of 1,073,407 shares, compared to its average volume of 793,091. The firm's fifty day moving average is $97.90 and its 200 day moving average is $96.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The firm has a market capitalization of $6.83 billion, a PE ratio of -16.09, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $125.76.

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

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, February 14th. AGCO's dividend payout ratio (DPR) is presently -20.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial upped their target price on AGCO from $109.00 to $118.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Robert W. Baird lowered AGCO from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $116.00 to $100.00 in a research report on Monday. The Goldman Sachs Group reduced their price target 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. StockNews.com upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, AGCO has an average rating of "Hold" and a consensus target price of $104.30.

AGCO 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.