Erste Asset Management GmbH Buys New Stake in AGCO Co. (NYSE:AGCO)

Erste Asset Management GmbH bought a new stake in AGCO Co. (NYSE:AGCO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 24,774 shares of the industrial products company's stock, valued at approximately $2,424,000.

Several other large investors have also modified their holdings of AGCO. Brooklyn Investment Group bought a new position in shares of AGCO in the 3rd quarter worth about $29,000. LRI Investments LLC lifted its holdings in AGCO by 94.3% in the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company's stock worth $33,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after purchasing an additional 210 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock worth $40,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 78.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on AGCO. StockNews.com cut shares of AGCO from a "hold" rating to a "sell" rating in a research report on Thursday, November 28th. The Goldman Sachs Group decreased their price target on AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Citigroup lifted their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. BMO Capital Markets assumed coverage on shares of AGCO in a research report on Friday, August 9th. They issued a "market perform" rating and a $96.00 target price for the company. Finally, Oppenheimer dropped their price target on shares of AGCO from $131.00 to $111.00 and set an "outperform" 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 given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $113.18.

AGCO Stock Down 0.9 %

AGCO stock traded down $0.89 during mid-day trading on Tuesday, hitting $100.61. 685,116 shares of the company's stock were exchanged, compared to its average volume of 1,038,097. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The stock has a 50 day moving average of $97.44 and a two-hundred day moving average of $96.81. 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 cap of $7.51 billion, a P/E ratio of 44.52, a P/E/G ratio of 0.58 and a beta of 1.24.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business's quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.97 earnings per share. As a group, analysts anticipate that AGCO Co. will post 7.34 EPS for the current fiscal year.

AGCO Announces Dividend

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 given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's dividend payout ratio is currently 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.