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State Street Corp Purchases 80,846 Shares of AGCO Co. (NYSE:AGCO)

AGCO logo with Industrial Products background

State Street Corp increased its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,978,963 shares of the industrial products company's stock after acquiring an additional 80,846 shares during the quarter. State Street Corp owned approximately 2.65% of AGCO worth $193,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AGCO. Cetera Advisors LLC purchased a new position in shares of AGCO in the first quarter valued at about $247,000. Wealth Enhancement Advisory Services LLC lifted its holdings in AGCO by 36.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,757 shares of the industrial products company's stock worth $661,000 after buying an additional 1,797 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of AGCO by 33.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,800 shares of the industrial products company's stock worth $372,000 after buying an additional 953 shares during the last quarter. Fiduciary Financial Group LLC purchased a new position in shares of AGCO during the second quarter valued at approximately $274,000. Finally, Assenagon Asset Management S.A. lifted its stake in AGCO by 162.8% in the second quarter. Assenagon Asset Management S.A. now owns 49,795 shares of the industrial products company's stock worth $4,874,000 after acquiring an additional 30,848 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Up 0.3 %

Shares of AGCO traded up $0.27 on Friday, hitting $97.04. 919,363 shares of the stock traded hands, compared to its average volume of 790,398. The company has a market capitalization of $7.24 billion, a PE ratio of 42.94, a P/E/G ratio of 0.56 and a beta of 1.24. 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 business has a 50 day simple moving average of $97.55 and a 200 day simple moving average of $96.42.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results 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). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the prior year, the firm earned $3.97 EPS. The firm's revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities analysts forecast that AGCO Co. will post 7.36 earnings per share for the current fiscal year.

AGCO Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AGCO. StockNews.com downgraded shares of AGCO from a "hold" rating to a "sell" rating in a research note on Wednesday. Oppenheimer dropped their price target on AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Citigroup upped their price target on AGCO from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday. Truist Financial boosted their target price on shares of AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group reduced their target price on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, AGCO currently has an average rating of "Hold" and an average target price of $113.18.

View Our Latest Report on AGCO

AGCO Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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