OFI Invest Asset Management Takes Position in AGCO Co. (NYSE:AGCO)

OFI Invest Asset Management bought a new position in AGCO Co. (NYSE:AGCO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,822 shares of the industrial products company's stock, valued at approximately $616,000.

Several other institutional investors have also recently added to or reduced their stakes in AGCO. Allworth Financial LP grew its stake in shares of AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock valued at $30,000 after buying an additional 220 shares during the period. Brooklyn Investment Group bought a new position in AGCO in the third quarter worth approximately $29,000. UMB Bank n.a. grew its stake in AGCO by 84.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 154 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of AGCO during the fourth quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC raised its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after purchasing an additional 210 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

Shares of NYSE AGCO traded down $2.42 during mid-day trading on Thursday, reaching $91.96. 884,785 shares of the company's stock were exchanged, compared to its average volume of 826,509. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of -16.16, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The firm has a 50-day moving average price of $98.40 and a two-hundred day moving average price of $96.50. 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 Co. has a 52 week low of $84.35 and a 52 week high of $125.76.

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AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 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 EPS for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, February 14th. AGCO's dividend payout ratio is currently -20.39%.

Analyst Ratings Changes

A number of analysts have commented on AGCO shares. JPMorgan Chase & Co. boosted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. StockNews.com raised shares of AGCO from a "sell" rating to a "hold" rating in a research report on Friday, February 7th. Citigroup dropped their price target on shares of AGCO from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird lowered AGCO from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. Finally, Morgan Stanley initiated coverage on AGCO in a report on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, AGCO presently has a consensus rating of "Hold" and an average target price of $104.30.

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.