JPMorgan Chase & Co. Buys 286,958 Shares of AGCO Co. (NYSE:AGCO)

JPMorgan Chase & Co. lifted its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 83.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,098 shares of the industrial products company's stock after acquiring an additional 286,958 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.84% of AGCO worth $58,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in AGCO by 173,056.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 51,947 shares of the industrial products company's stock valued at $4,795,000 after buying an additional 51,917 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of AGCO by 20.6% in the 4th quarter. Zions Bancorporation N.A. now owns 11,732 shares of the industrial products company's stock valued at $1,097,000 after purchasing an additional 2,003 shares during the period. LPL Financial LLC boosted its position in shares of AGCO by 4.9% during the 4th quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company's stock valued at $2,135,000 after purchasing an additional 1,016 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in AGCO during the fourth quarter worth approximately $1,234,000. Finally, Sei Investments Co. increased its holdings in AGCO by 31.9% in the fourth quarter. Sei Investments Co. now owns 178,175 shares of the industrial products company's stock worth $16,655,000 after purchasing an additional 43,119 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

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AGCO Stock Up 13.4 %

AGCO stock traded up $10.13 during trading on Wednesday, hitting $85.90. 2,515,817 shares of the company were exchanged, compared to its average volume of 882,001. The company has a market capitalization of $6.41 billion, a P/E ratio of -15.10, a PEG ratio of 1.80 and a beta of 1.16. The business's 50 day moving average is $95.24 and its 200 day moving average is $96.47. AGCO Co. has a 52 week low of $72.32 and a 52 week high of $125.76. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

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

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, February 14th. AGCO's dividend payout ratio is presently -20.39%.

Analyst Ratings Changes

A number of research firms have issued reports on AGCO. Baird R W cut AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday. StockNews.com lowered shares of AGCO from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Oppenheimer raised their target price on AGCO from $108.00 to $109.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price objective on AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, AGCO currently has a consensus rating of "Hold" and a consensus target price of $100.90.

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.