Raymond James Financial Inc. Invests $16.85 Million in AGCO Co. (NYSE:AGCO)

Raymond James Financial Inc. purchased a new position in AGCO Co. (NYSE:AGCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 180,200 shares of the industrial products company's stock, valued at approximately $16,845,000. Raymond James Financial Inc. owned about 0.24% of AGCO as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of AGCO by 333.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock worth $30,000 after purchasing an additional 220 shares in the last quarter. UMB Bank n.a. lifted its holdings in AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock worth $32,000 after buying an additional 154 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of AGCO during the 4th quarter worth about $33,000. Jones Financial Companies Lllp increased its holdings in shares of AGCO by 112.3% in the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 265 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of AGCO by 174.7% during the 4th quarter. GAMMA Investing LLC now owns 544 shares of the industrial products company's stock worth $51,000 after acquiring an additional 346 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Stock Performance

AGCO traded up $0.52 on Wednesday, hitting $82.36. 604,200 shares of the company traded hands, compared to its average volume of 892,137. The company has a 50 day moving average of $91.53 and a 200-day moving average of $95.43. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $121.49. The stock has a market capitalization of $6.14 billion, a PE ratio of -14.47, a PEG ratio of 1.80 and a beta of 1.16. 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 (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share 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%. Sell-side analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on AGCO. Morgan Stanley lowered shares of AGCO from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $94.00 to $75.00 in a research note on Wednesday, April 16th. StockNews.com raised shares of AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Oppenheimer dropped their price objective on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, UBS Group set a $106.00 target price on AGCO in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $99.80.

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.