Geode Capital Management LLC Purchases 80,516 Shares of AGCO Co. (NYSE:AGCO)

Geode Capital Management LLC boosted its position in AGCO Co. (NYSE:AGCO) by 7.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,205,227 shares of the industrial products company’s stock after buying an additional 80,516 shares during the quarter. Geode Capital Management LLC’s holdings in AGCO were worth $121,121,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after purchasing an additional 63,432 shares during the last quarter. Dimensional Fund Advisors LP grew its position in AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after acquiring an additional 335,092 shares during the last quarter. Pacer Advisors Inc. raised its stake in AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after acquiring an additional 538,955 shares in the last quarter. State Street Corp lifted its holdings in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after acquiring an additional 80,846 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after purchasing an additional 66,303 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Stock Performance

Shares of AGCO stock opened at $96.87 on Wednesday. The company has a market cap of $7.23 billion, a P/E ratio of 42.86, a PEG ratio of 0.56 and a beta of 1.24. 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 business has a 50-day moving average price of $97.54 and a two-hundred day moving average price of $96.23. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.97 EPS. As a group, analysts anticipate that AGCO Co. will post 7.36 EPS for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AGCO shares. Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. The Goldman Sachs Group cut their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. Oppenheimer decreased their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial lifted their price target on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.18.

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.