Neo Ivy Capital Management Invests $1.68 Million in AGCO Co. (NYSE:AGCO)

Neo Ivy Capital Management acquired a new stake in shares of AGCO Co. (NYSE:AGCO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 17,134 shares of the industrial products company's stock, valued at approximately $1,676,000.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of AGCO in the 3rd quarter worth $29,000. LRI Investments LLC raised its position in shares of AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company's stock worth $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. raised its position in shares of AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock worth $34,000 after acquiring an additional 174 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after acquiring an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position 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 acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Oppenheimer dropped their target price on AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Citigroup boosted their target price on AGCO from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Monday. Morgan Stanley began coverage on AGCO in a research note on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price target on the stock. Finally, Truist Financial boosted 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $113.18.

AGCO Price Performance

NYSE AGCO traded up $0.25 during trading hours on Wednesday, reaching $98.30. The company's stock had a trading volume of 363,557 shares, compared to its average volume of 787,613. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 0.55 and a beta of 1.24. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The company's 50-day moving average is $97.54 and its two-hundred day moving average is $96.47.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly 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 analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.97 EPS. On average, equities analysts predict that AGCO Co. will post 7.36 EPS for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. AGCO's payout ratio is currently 51.33%.

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.