Perigon Wealth Management LLC Has $2.62 Million Stock Holdings in AGCO Co. (NYSE:AGCO)

Perigon Wealth Management LLC boosted its position in AGCO Co. (NYSE:AGCO - Free Report) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,146 shares of the industrial products company's stock after acquiring an additional 4,452 shares during the quarter. Perigon Wealth Management LLC's holdings in AGCO were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company's stock worth $206,525,000 after purchasing an additional 538,955 shares in the last quarter. Barclays PLC raised its holdings in shares of AGCO by 386.8% during the 3rd 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AGCO by 67.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,175 shares of the industrial products company's stock worth $44,739,000 after acquiring an additional 183,688 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in AGCO by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company's stock worth $66,959,000 after acquiring an additional 150,656 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in AGCO in the third quarter valued at approximately $13,242,000. Institutional investors and hedge funds own 78.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AGCO. StockNews.com upgraded AGCO from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th. Morgan Stanley began coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 price target on the stock. Truist Financial upped their price objective on AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research report on Wednesday, January 15th. Finally, Oppenheimer increased their price target on AGCO from $108.00 to $109.00 and gave the stock an "outperform" rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $107.20.

AGCO Stock Up 2.4 %

AGCO stock traded up $2.52 during mid-day trading on Thursday, hitting $106.39. The stock had a trading volume of 473,130 shares, compared to its average volume of 684,507. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The company has a fifty day moving average of $97.45 and a 200 day moving average of $95.45. 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 capitalization of $7.94 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 1.03 and a beta of 1.25.

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 the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the company earned $3.97 EPS. The business's revenue for the quarter was down 24.8% compared to the same quarter last year. On average, equities analysts expect that AGCO Co. will post 7.33 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, February 14th. AGCO's dividend payout ratio (DPR) is 51.33%.

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.