AGCO Co. (NYSE:AGCO) Stake Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,687 shares of the industrial products company's stock after buying an additional 27,438 shares during the quarter. Principal Financial Group Inc. owned approximately 0.95% of AGCO worth $66,536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D grew its position in AGCO by 2.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,877 shares of the industrial products company's stock valued at $2,139,000 after acquiring an additional 567 shares during the period. Allworth Financial LP lifted 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 purchasing an additional 220 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of AGCO by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the industrial products company's stock worth $123,000 after purchasing an additional 320 shares during the period. Vest Financial LLC increased its position in AGCO by 67.8% during the 4th quarter. Vest Financial LLC now owns 26,432 shares of the industrial products company's stock worth $2,471,000 after purchasing an additional 10,684 shares in the last quarter. Finally, Tectonic Advisors LLC purchased a new position in AGCO in the fourth quarter valued at approximately $390,000. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Stock Down 2.9 %

AGCO traded down $2.94 during trading on Friday, hitting $98.80. The company had a trading volume of 1,027,926 shares, compared to its average volume of 781,924. The company has a market cap of $7.37 billion, a PE ratio of -17.36, a P/E/G ratio of 1.85 and a beta of 1.25. 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 1-year low of $84.35 and a 1-year high of $125.76. The business has a 50-day moving average of $97.77 and a 200-day moving average of $95.69.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts forecast that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.17%. AGCO's dividend payout ratio (DPR) is -20.39%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Truist Financial increased their price target on AGCO from $109.00 to $118.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Morgan Stanley assumed coverage on AGCO in a research note on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price objective on the stock. Oppenheimer increased 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, StockNews.com raised AGCO from a "sell" rating to a "hold" rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $107.20.

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.