Edgestream Partners L.P. raised its stake in AGCO Co. (NYSE:AGCO - Free Report) by 46.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,878 shares of the industrial products company's stock after buying an additional 21,357 shares during the period. Edgestream Partners L.P. owned 0.09% of AGCO worth $6,252,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in shares of AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company's stock valued at $206,525,000 after buying an additional 538,955 shares during the period. Edge Capital Group LLC acquired a new position in shares of AGCO during the fourth quarter worth $39,269,000. Barclays PLC grew 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 worth $24,389,000 after purchasing an additional 198,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 purchasing an additional 183,688 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of AGCO in the fourth quarter valued at about $16,845,000. Institutional investors own 78.80% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on AGCO shares. Morgan Stanley assumed coverage on AGCO in a research note on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 price objective on the stock. Oppenheimer upped their price objective on shares of AGCO from $108.00 to $109.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Citigroup lowered their target price on shares of AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Baird R W cut shares of AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, StockNews.com raised shares of AGCO from a "sell" rating to a "hold" rating in a research report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $104.30.
View Our Latest Stock Report on AGCO
AGCO Stock Down 4.6 %
AGCO stock traded down $4.75 during trading on Tuesday, hitting $97.87. 908,290 shares of the company were exchanged, compared to its average volume of 819,413. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $98.30 and its 200 day moving average is $96.47. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76. The company has a market capitalization of $7.30 billion, a P/E ratio of -17.20, a PEG ratio of 1.80 and a beta of 1.24.
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%. Analysts predict that AGCO Co. will post 4.2 earnings per share for the current year.
AGCO Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, February 14th. AGCO's dividend payout ratio is presently -20.39%.
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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