Asset Management One Co. Ltd. Buys Shares of 2,910 AGCO Co. (NYSE:AGCO)

Asset Management One Co. Ltd. bought a new stake in AGCO Co. (NYSE:AGCO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,910 shares of the industrial products company’s stock, valued at approximately $355,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bragg Financial Advisors Inc lifted its stake in AGCO by 0.6% in the fourth quarter. Bragg Financial Advisors Inc now owns 13,340 shares of the industrial products company’s stock valued at $1,850,000 after buying an additional 86 shares during the last quarter. Nkcfo LLC raised its stake in shares of AGCO by 20.5% during the third quarter. Nkcfo LLC now owns 530 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 90 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of AGCO by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock valued at $1,816,000 after purchasing an additional 100 shares in the last quarter. PDT Partners LLC raised its stake in shares of AGCO by 3.1% during the second quarter. PDT Partners LLC now owns 3,300 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 100 shares in the last quarter. Finally, Denali Advisors LLC raised its stake in shares of AGCO by 50.0% during the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 103 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Price Performance

Shares of AGCO stock opened at $120.01 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $115.63 and its two-hundred day moving average price is $117.16. AGCO Co. has a 52 week low of $105.77 and a 52 week high of $140.46. The stock has a market cap of $8.96 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.70 and a beta of 1.31.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.47 EPS. As a group, sell-side analysts anticipate that AGCO Co. will post 13.08 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 0.97%. AGCO’s payout ratio is 7.42%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial assumed coverage on shares of AGCO in a research note on Thursday, March 14th. They set a “buy” rating and a $142.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a research note on Tuesday, December 19th. Finally, StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

About AGCO

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.