Hotchkis & Wiley Capital Management LLC Takes Position in AGCO Co. (NYSE:AGCO)

Hotchkis & Wiley Capital Management LLC purchased a new position in AGCO Co. (NYSE:AGCO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 135,320 shares of the industrial products company's stock, valued at approximately $13,242,000. Hotchkis & Wiley Capital Management LLC owned 0.18% of AGCO at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AGCO. Cetera Investment Advisers lifted its position in shares of AGCO by 377.0% during the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company's stock valued at $2,177,000 after purchasing an additional 13,985 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of AGCO during the first quarter valued at about $247,000. Mather Group LLC. lifted its position in shares of AGCO by 40.6% during the second quarter. Mather Group LLC. now owns 630 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 182 shares in the last quarter. CWM LLC lifted its position in shares of AGCO by 71.0% during the second quarter. CWM LLC now owns 10,455 shares of the industrial products company's stock valued at $1,023,000 after purchasing an additional 4,341 shares in the last quarter. Finally, CX Institutional lifted its position in shares of AGCO by 4.3% during the second quarter. CX Institutional now owns 36,179 shares of the industrial products company's stock valued at $3,541,000 after purchasing an additional 1,489 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

AGCO traded down $1.13 during trading hours on Wednesday, hitting $99.43. The company's stock had a trading volume of 653,694 shares, compared to its average volume of 786,379. The business's 50-day moving average price is $97.54 and its 200-day moving average price is $96.83. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 44.00, a P/E/G ratio of 0.58 and a beta of 1.24. 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 posted its quarterly earnings data 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 firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company's revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.97 EPS. Sell-side analysts expect that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's payout ratio is 51.33%.

Analyst Ratings Changes

Several analysts have commented on AGCO shares. Citigroup lifted their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Morgan Stanley started coverage on shares of AGCO in a research report on Tuesday. They issued an "equal weight" rating and a $101.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Truist Financial boosted their price target on shares of AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, StockNews.com lowered shares of AGCO from a "hold" rating to a "sell" rating in a research report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $113.18.

AGCO 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.