Tectonic Advisors LLC Makes New $390,000 Investment in AGCO Co. (NYSE:AGCO)

Tectonic Advisors LLC bought a new position in shares of AGCO Co. (NYSE:AGCO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,177 shares of the industrial products company's stock, valued at approximately $390,000.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 117 shares during the period. Inspire Investing LLC lifted its stake in shares of AGCO by 2.8% in the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company's stock valued at $402,000 after purchasing an additional 118 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of AGCO by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company's stock worth $1,666,000 after purchasing an additional 126 shares during the period. Farther Finance Advisors LLC increased its position in AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after purchasing an additional 139 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in AGCO by 4.1% in the third quarter. OLD National Bancorp IN now owns 3,880 shares of the industrial products company's stock valued at $380,000 after buying an additional 152 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Stock Down 2.2 %

Shares of AGCO stock traded down $2.23 during mid-day trading on Monday, reaching $97.75. 418,032 shares of the company were exchanged, compared to its average volume of 724,481. The business's 50 day simple moving average is $97.76 and its 200 day simple moving average is $95.49. The company has a market capitalization of $7.30 billion, a P/E ratio of -17.19, a P/E/G ratio of 0.97 and a beta of 1.25. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $125.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.72 and a current ratio of 1.34.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Research analysts predict that AGCO Co. will post 4.22 earnings per share for the current year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, February 14th. AGCO's dividend payout ratio is currently -20.39%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of AGCO from $109.00 to $118.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 15th. Citigroup decreased their target price on AGCO from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Morgan Stanley began coverage on AGCO in a report on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 target price on the stock. Finally, The Goldman Sachs Group decreased their price target on AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AGCO presently has a consensus rating of "Hold" and an average price target of $107.20.

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.