Allworth Financial LP Grows Position in AGCO Co. (NYSE:AGCO)

Allworth Financial LP raised its holdings in shares of AGCO Co. (NYSE:AGCO) by 72.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 286 shares of the industrial products company’s stock after acquiring an additional 120 shares during the quarter. Allworth Financial LP’s holdings in AGCO were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP lifted its holdings in AGCO by 278.0% during the second quarter. Quarry LP now owns 189 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 139 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in AGCO during the third quarter valued at about $26,000. Legacy Financial Group LLC purchased a new stake in AGCO during the third quarter valued at about $27,000. Point72 Asset Management L.P. purchased a new stake in AGCO during the second quarter valued at about $36,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of AGCO in the third quarter worth about $35,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Stifel Nicolaus lowered their price target on shares of AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, December 19th. Finally, Truist Financial assumed coverage on shares of AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, AGCO presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

AGCO Trading Down 1.5 %

Shares of AGCO opened at $120.01 on Monday. The firm’s 50 day simple moving average is $115.63 and its 200 day simple moving average is $117.15. The company has a market capitalization of $8.96 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67. AGCO Co. has a 1-year low of $105.77 and a 1-year high of $140.46.

AGCO (NYSE:AGCO) last announced its 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 net margin of 8.13% and a return on equity of 26.96%. 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 earned $4.47 earnings per share. Sell-side analysts forecast that AGCO Co. will post 13.03 earnings per share for the current fiscal year.

AGCO Dividend Announcement

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

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.