Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in AGCO Co. (NYSE:AGCO)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 173,056.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,947 shares of the industrial products company's stock after buying an additional 51,917 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of AGCO worth $4,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AGCO. Zions Bancorporation N.A. raised its holdings in AGCO by 20.6% in the 4th quarter. Zions Bancorporation N.A. now owns 11,732 shares of the industrial products company's stock valued at $1,097,000 after buying an additional 2,003 shares during the last quarter. LPL Financial LLC lifted its holdings in AGCO by 4.9% during the 4th quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company's stock worth $2,135,000 after buying an additional 1,016 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of AGCO in the 4th quarter valued at about $1,234,000. Sei Investments Co. increased its stake in shares of AGCO by 31.9% in the fourth quarter. Sei Investments Co. now owns 178,175 shares of the industrial products company's stock valued at $16,655,000 after buying an additional 43,119 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of AGCO by 11.4% in the fourth quarter. American Century Companies Inc. now owns 124,696 shares of the industrial products company's stock worth $11,657,000 after acquiring an additional 12,780 shares during the period. Institutional investors own 78.80% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms have issued reports on AGCO. Truist Financial raised their price target on shares of AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Robert W. Baird lowered AGCO from an "outperform" rating to a "neutral" rating and cut their target price for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. StockNews.com downgraded shares of AGCO from a "hold" rating to a "sell" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. Finally, Baird R W downgraded AGCO from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $104.60.

AGCO Stock Down 3.3 %

Shares of AGCO stock traded down $2.69 during trading hours on Friday, reaching $79.45. The company had a trading volume of 2,652,579 shares, compared to its average volume of 866,268. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The business has a fifty day simple moving average of $96.97 and a 200-day simple moving average of $96.87. AGCO Co. has a 12 month low of $73.79 and a 12 month high of $125.76. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -13.96, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share 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%. On average, research analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, February 14th. AGCO's payout ratio is -20.39%.

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.