M&T Bank Corp Has $8.26 Million Stake in AGCO Co. (NYSE:AGCO)

M&T Bank Corp increased its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 133.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,441 shares of the industrial products company's stock after purchasing an additional 48,198 shares during the quarter. M&T Bank Corp owned approximately 0.11% of AGCO worth $8,263,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of AGCO by 386.8% in the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock valued at $24,389,000 after buying an additional 198,014 shares in the last quarter. LRI Investments LLC grew its holdings in AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company's stock worth $47,000 after acquiring an additional 170 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in AGCO in the 3rd quarter valued at about $874,000. Orion Portfolio Solutions LLC raised its stake in shares of AGCO by 41.7% in the third quarter. Orion Portfolio Solutions LLC now owns 3,715 shares of the industrial products company's stock worth $364,000 after acquiring an additional 1,093 shares during the last quarter. Finally, State Street Corp lifted its position in shares of AGCO by 4.3% during the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company's stock worth $193,661,000 after purchasing an additional 80,846 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer dropped their price objective on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. StockNews.com cut AGCO from a "hold" rating to a "sell" rating in a report on Wednesday. Morgan Stanley initiated coverage on AGCO in a report on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price objective for the company. The Goldman Sachs Group dropped their price target on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup raised their price objective on shares of AGCO from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $113.18.

AGCO Trading Down 1.9 %

AGCO stock traded down $1.89 during midday trading on Thursday, hitting $96.75. 722,781 shares of the company's stock were exchanged, compared to its average volume of 789,861. AGCO Co. has a one year low of $84.35 and a one year high of $130.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The company has a market cap of $7.22 billion, a PE ratio of 42.81, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The stock's fifty day moving average price is $97.56 and its 200-day moving average price is $96.48.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company's revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.97 EPS. Research analysts predict that AGCO Co. will post 7.36 earnings per share for the current fiscal year.

AGCO Announces Dividend

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

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.