Entropy Technologies LP bought a new stake in AGCO Co. (NYSE:AGCO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,219 shares of the industrial products company's stock, valued at approximately $1,979,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in AGCO by 103.5% during the second quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company's stock worth $153,814,000 after acquiring an additional 799,429 shares during the period. Vanguard Group Inc. boosted its stake in AGCO by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company's stock valued at $930,660,000 after purchasing an additional 784,617 shares in the last quarter. AQR Capital Management LLC increased its position in shares of AGCO by 53.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company's stock valued at $171,090,000 after purchasing an additional 605,509 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company's stock worth $175,323,000 after buying an additional 391,591 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company's stock valued at $221,187,000 after buying an additional 335,092 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.
AGCO Stock Down 0.8 %
NYSE:AGCO traded down $0.71 on Wednesday, hitting $89.62. 521,819 shares of the company's stock traded hands, compared to its average volume of 775,210. The firm has a 50-day moving average price of $95.75 and a 200-day moving average price of $98.67. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a market cap of $6.69 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87.
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 net margin of 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted $3.97 EPS. The company's quarterly revenue was down 24.8% compared to the same quarter last year. Equities analysts anticipate that AGCO Co. will post 7.32 EPS for the current fiscal year.
AGCO Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's dividend payout ratio is currently 51.33%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on AGCO shares. Robert W. Baird cut their price target on shares of AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. UBS Group reduced their target price on shares of AGCO from $107.00 to $104.00 and set a "neutral" rating for the company in a report on Wednesday, July 31st. BMO Capital Markets initiated coverage on AGCO in a report on Friday, August 9th. They issued a "market perform" rating and a $96.00 price target on the stock. Truist Financial raised their price objective on AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Citigroup lifted their target price on AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, AGCO has an average rating of "Hold" and an average price target of $114.40.
Check Out Our Latest Report on AGCO
AGCO Company 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.
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