Entropy Technologies LP Makes New Investment in AGCO Co. (NYSE:AGCO)

Entropy Technologies LP purchased a new position in shares of AGCO Co. (NYSE:AGCO) during the third quarter, HoldingsChannel reports. The institutional investor purchased 20,219 shares of the industrial products company’s stock, valued at approximately $1,979,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of AGCO by 1.7% during 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 buying an additional 63,432 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of AGCO by 17.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after buying an additional 335,092 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after buying an additional 391,591 shares during the period. Finally, AQR Capital Management LLC grew its position in AGCO by 53.0% during the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after acquiring an additional 605,509 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AGCO shares. The Goldman Sachs Group cut their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. UBS Group decreased their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Oppenheimer cut their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird decreased their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $114.40.

AGCO Stock Down 1.6 %

Shares of NYSE AGCO opened at $90.34 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The stock’s 50-day simple moving average is $95.75 and its 200-day simple moving average is $98.67. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 0.95 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm earned $3.97 earnings per share. AGCO’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that AGCO Co. will post 7.3 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio is currently 51.33%.

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.