Y Intercept Hong Kong Ltd purchased a new position in shares of AGCO Co. (NYSE:AGCO - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,934 shares of the industrial products company's stock, valued at approximately $874,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of AGCO in the 3rd quarter valued at about $29,000. LRI Investments LLC increased its stake in AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 165 shares in the last quarter. Blue Trust Inc. raised its holdings in AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock worth $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC boosted its position in AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after purchasing an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 167 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.
AGCO Trading Up 0.3 %
AGCO traded up $0.27 during midday trading on Friday, hitting $97.04. The company's stock had a trading volume of 919,363 shares, compared to its average volume of 790,398. The firm has a market cap of $7.24 billion, a P/E ratio of 42.81, a PEG ratio of 0.56 and a beta of 1.24. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $97.56 and a two-hundred day moving average price of $96.48.
AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the company posted $3.97 EPS. On average, research analysts anticipate that AGCO Co. will post 7.36 earnings per share for the current year.
AGCO Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's payout ratio is currently 51.33%.
Analyst Ratings Changes
Several equities research analysts recently commented on AGCO shares. The Goldman Sachs Group decreased their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. StockNews.com cut shares of AGCO from a "hold" rating to a "sell" rating in a research note on Wednesday. Morgan Stanley started coverage on AGCO in a research note on Tuesday, December 3rd. They issued an "equal weight" rating and a $101.00 target price on the stock. Citigroup raised their price target on AGCO from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Oppenheimer reduced their price objective on AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AGCO currently has an average rating of "Hold" and an average target price of $113.18.
Read Our Latest Research Report on AGCO
About AGCO
(
Free Report)
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.
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