Royal London Asset Management Ltd. Increases Stock Holdings in AGCO Co. (NYSE:AGCO)

Royal London Asset Management Ltd. grew its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 623,585 shares of the industrial products company's stock after buying an additional 12,328 shares during the quarter. Royal London Asset Management Ltd. owned 0.84% of AGCO worth $61,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC bought a new stake in AGCO during the third quarter worth $13,242,000. Erste Asset Management GmbH purchased a new position in AGCO during the 3rd quarter worth $2,424,000. ARGA Investment Management LP grew its stake in shares of AGCO by 71.9% in the 3rd quarter. ARGA Investment Management LP now owns 15,891 shares of the industrial products company's stock worth $1,555,000 after acquiring an additional 6,646 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of AGCO in the third quarter valued at about $2,264,000. Finally, Verition Fund Management LLC lifted its position in shares of AGCO by 61.7% during the third quarter. Verition Fund Management LLC now owns 8,297 shares of the industrial products company's stock valued at $812,000 after purchasing an additional 3,167 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Stock Performance

AGCO stock traded down $1.05 during midday trading on Friday, reaching $96.41. The stock had a trading volume of 1,049,068 shares, compared to its average volume of 787,772. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.20 billion, a PE ratio of 42.66, a P/E/G ratio of 0.57 and a beta of 1.24. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The firm's 50-day moving average price is $97.51 and its 200 day moving average price is $96.74.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS 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 previous year, the company posted $3.97 earnings per share. The business's quarterly revenue was down 24.8% compared to the same quarter last year. As a group, research analysts predict that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's payout ratio is currently 51.33%.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. StockNews.com lowered AGCO from a "hold" rating to a "sell" rating in a report on Thursday, November 28th. Truist Financial increased their price target on AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Morgan Stanley began coverage on AGCO in a research report on Tuesday. They issued an "equal weight" rating and a $101.00 price objective on the stock. Finally, Citigroup raised their target price on AGCO from $88.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $113.18.

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.