Geode Capital Management LLC Acquires 80,516 Shares of AGCO Co. (NYSE:AGCO)

Geode Capital Management LLC boosted its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 7.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,205,227 shares of the industrial products company's stock after buying an additional 80,516 shares during the period. Geode Capital Management LLC owned approximately 1.61% of AGCO worth $121,121,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of AGCO by 103.5% during the 2nd 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 in the last quarter. AQR Capital Management LLC raised its holdings 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 worth $171,090,000 after buying an additional 605,509 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of AGCO by 28.0% during 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 in the last quarter. Finally, Barclays PLC grew its position in AGCO by 386.8% in the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock valued at $24,389,000 after acquiring an additional 198,014 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Price Performance

AGCO stock opened at $96.87 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 0.56 and a beta of 1.24. The company's fifty day simple moving average is $97.54 and its 200 day simple moving average is $96.23. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results 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). The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 earnings per share. On average, analysts expect that AGCO Co. will post 7.36 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. AGCO's dividend payout ratio (DPR) is currently 51.33%.

Analyst Upgrades and Downgrades

AGCO has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Oppenheimer decreased their target price on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Citigroup increased their price target on AGCO from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Monday, December 9th. Morgan Stanley started coverage on AGCO in a research report on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price objective on the stock. Finally, Truist Financial lifted their price target on AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $113.18.

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.