Royal London Asset Management Ltd. Raises Stock Holdings in AGCO Co. (NYSE:AGCO)

Royal London Asset Management Ltd. increased its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 758,236 shares of the industrial products company's stock after purchasing an additional 134,651 shares during the period. Royal London Asset Management Ltd. owned 1.02% of AGCO worth $70,880,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in AGCO during the 4th quarter valued at $3,144,000. Gateway Investment Advisers LLC bought a new stake in AGCO during the fourth quarter valued at about $311,000. Olstein Capital Management L.P. boosted its position in AGCO by 20.8% during the fourth quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 2,500 shares in the last quarter. M&T Bank Corp grew its stake in AGCO by 133.0% in the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company's stock valued at $8,263,000 after purchasing an additional 48,198 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in AGCO by 28.2% in the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company's stock worth $66,959,000 after purchasing an additional 150,656 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Performance

AGCO traded up $1.99 during midday trading on Monday, hitting $95.08. 608,487 shares of the company were exchanged, compared to its average volume of 820,681. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -16.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The company's 50 day simple moving average is $98.83 and its 200 day simple moving average is $96.74. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $125.76.

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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 the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, sell-side analysts predict that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, February 14th. AGCO's dividend payout ratio (DPR) is presently -20.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of AGCO from $108.00 to $109.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Truist Financial lifted their price target on shares of AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upped 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. StockNews.com raised AGCO from a "sell" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Citigroup boosted their target price on AGCO from $95.00 to $98.00 and gave the stock a "neutral" rating in a research note on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $104.60.

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.