ARGA Investment Management LP lifted its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 71.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,891 shares of the industrial products company's stock after purchasing an additional 6,646 shares during the period. ARGA Investment Management LP's holdings in AGCO were worth $1,555,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in AGCO by 146.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company's stock valued at $10,538,000 after purchasing an additional 50,892 shares during the period. Comerica Bank increased its holdings in AGCO by 15.5% in the 1st quarter. Comerica Bank now owns 42,300 shares of the industrial products company's stock worth $5,204,000 after acquiring an additional 5,688 shares during the last quarter. Swedbank AB bought a new stake in AGCO in the 1st quarter valued at about $10,498,000. Cetera Investment Advisers lifted its holdings in AGCO by 377.0% during the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company's stock valued at $2,177,000 after purchasing an additional 13,985 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in AGCO during the first quarter worth about $247,000. Institutional investors own 78.80% of the company's stock.
AGCO Trading Down 0.2 %
AGCO stock traded down $0.25 during mid-day trading on Friday, hitting $101.21. The company's stock had a trading volume of 463,238 shares, compared to its average volume of 1,054,827. The business has a 50 day moving average price of $97.22 and a 200-day moving average price of $96.96. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 44.78, a price-to-earnings-growth ratio of 0.57 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.
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 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 company had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period last year, the company posted $3.97 EPS. The business's revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, analysts forecast that AGCO Co. will post 7.34 EPS for the current year.
AGCO Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. AGCO's dividend payout ratio is currently 51.33%.
Wall Street Analysts Forecast Growth
AGCO has been the topic of several recent research reports. Citigroup increased their target price on AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. StockNews.com lowered AGCO from a "hold" rating to a "sell" rating in a report on Thursday. Oppenheimer lowered their price target on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group decreased their target price on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, AGCO currently has a consensus rating of "Hold" and an average price target of $114.40.
Read Our Latest Stock Analysis on AGCO
About AGCO
(
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.
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