Geode Capital Management LLC Increases Stake in AGCO Co. (NYSE:AGCO)

Geode Capital Management LLC grew its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,234,326 shares of the industrial products company's stock after acquiring an additional 29,099 shares during the quarter. Geode Capital Management LLC owned about 1.65% of AGCO worth $120,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its position in shares of AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. increased its holdings in shares of AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 154 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in AGCO in the 4th quarter valued at $33,000. LRI Investments LLC grew its position in AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company's stock worth $47,000 after purchasing an additional 170 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in AGCO by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock worth $47,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

Remove Ads

Analyst Ratings Changes

AGCO has been the topic of a number of research reports. Baird R W lowered AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Oppenheimer upped their price target on AGCO from $108.00 to $109.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. Robert W. Baird lowered shares of AGCO from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, StockNews.com upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $100.90.

AGCO Price Performance

Shares of AGCO stock traded up $1.08 during mid-day trading on Monday, reaching $87.31. The stock had a trading volume of 27,777 shares, compared to its average volume of 883,397. 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 company has a market cap of $6.51 billion, a P/E ratio of -15.34, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. The business has a 50-day simple moving average of $93.78 and a 200 day simple moving average of $96.18. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $121.78.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, sell-side analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, February 14th. AGCO's dividend payout ratio (DPR) is -20.39%.

AGCO Company Profile

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.