Pictet Asset Management Holding SA Increases Stock Position in AGCO Co. (NYSE:AGCO)

Pictet Asset Management Holding SA lifted its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 570.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,729 shares of the industrial products company's stock after buying an additional 46,569 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of AGCO worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in AGCO by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock worth $212,000 after acquiring an additional 110 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of AGCO by 2.8% during the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company's stock worth $402,000 after purchasing an additional 118 shares during the period. Arizona State Retirement System increased its position in shares of AGCO by 0.8% during the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock worth $1,721,000 after purchasing an additional 150 shares during the last quarter. UMB Bank n.a. raised its holdings in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock valued at $32,000 after buying an additional 154 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in AGCO by 30.8% in the fourth quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company's stock valued at $64,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

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AGCO Stock Down 3.1 %

AGCO stock traded down $2.41 during trading on Tuesday, reaching $75.85. The stock had a trading volume of 1,782,617 shares, compared to its average volume of 874,069. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. AGCO Co. has a 52-week low of $73.79 and a 52-week high of $125.76. The stock has a market cap of $5.66 billion, a PE ratio of -13.33, a P/E/G ratio of 1.80 and a beta of 1.16. The business has a 50 day moving average price of $95.24 and a 200 day moving average price of $96.47.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data 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%. On average, analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, February 14th. AGCO's dividend payout ratio (DPR) is presently -20.39%.

Analyst Ratings Changes

AGCO has been the subject of a number of recent analyst reports. Oppenheimer boosted their price target 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. UBS Group cut their target price on AGCO from $100.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday. JPMorgan Chase & Co. raised their price target on AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 15th. Truist Financial dropped 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. Finally, Citigroup upgraded AGCO from a "neutral" rating to a "buy" rating and lowered their target price for the company from $98.00 to $90.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $100.90.

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.