Norges Bank Takes Position in AGCO Co. (NYSE:AGCO)

Norges Bank purchased a new position in AGCO Co. (NYSE:AGCO - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 613,192 shares of the industrial products company's stock, valued at approximately $57,321,000. Norges Bank owned approximately 0.82% of AGCO at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of AGCO by 29.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,713 shares of the industrial products company's stock valued at $3,103,000 after acquiring an additional 7,124 shares in the last quarter. Verition Fund Management LLC raised its stake in AGCO by 61.7% during the 3rd quarter. Verition Fund Management LLC now owns 8,297 shares of the industrial products company's stock valued at $812,000 after purchasing an additional 3,167 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of AGCO by 2.0% in the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company's stock valued at $61,024,000 after purchasing an additional 12,328 shares in the last quarter. State Street Corp boosted its position in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company's stock worth $193,661,000 after buying an additional 80,846 shares during the period. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of AGCO by 41.7% during the third quarter. Orion Portfolio Solutions LLC now owns 3,715 shares of the industrial products company's stock valued at $364,000 after buying an additional 1,093 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

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AGCO Stock Down 3.1 %

Shares of AGCO stock traded down $2.41 on Tuesday, hitting $75.85. The company's stock had a trading volume of 1,782,617 shares, compared to its average volume of 874,069. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of -13.33, a P/E/G ratio of 1.80 and a beta of 1.16. AGCO Co. has a fifty-two week low of $73.79 and a fifty-two week high of $125.76. The firm's fifty day moving average price is $95.24 and its 200-day moving average price is $96.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

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

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, February 14th. AGCO's dividend payout ratio is -20.39%.

Analyst Ratings Changes

Several brokerages recently issued reports on AGCO. Truist Financial reduced their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday. Robert W. Baird lowered shares of AGCO from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. UBS Group lowered their price objective on shares of AGCO from $100.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday. Citigroup upgraded shares of AGCO from a "neutral" rating to a "buy" rating and cut their target price for the stock from $98.00 to $90.00 in a research report on Tuesday. Finally, Oppenheimer lifted their target price on shares of AGCO from $108.00 to $109.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $100.90.

About AGCO

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.