AGCO Co. (NYSE:AGCO) Stock Position Boosted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC grew its stake in shares of AGCO Co. (NYSE:AGCO) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,383 shares of the industrial products company’s stock after buying an additional 91 shares during the quarter. SummerHaven Investment Management LLC’s holdings in AGCO were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of AGCO by 356.3% in the third quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock valued at $3,697,000 after buying an additional 24,408 shares during the period. Robeco Institutional Asset Management B.V. raised its position in AGCO by 23.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 104,597 shares of the industrial products company’s stock worth $12,372,000 after acquiring an additional 19,893 shares in the last quarter. Xponance Inc. lifted its holdings in AGCO by 19.1% in the 3rd quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 1,448 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of AGCO during the 3rd quarter valued at about $26,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of AGCO by 161.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,461 shares of the industrial products company’s stock worth $1,237,000 after purchasing an additional 6,467 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AGCO shares. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Oppenheimer upped their target price on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Truist Financial started coverage on shares of AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, April 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.50.

AGCO Price Performance

AGCO opened at $119.14 on Tuesday. The stock has a fifty day moving average price of $116.23 and a 200 day moving average price of $117.07. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. AGCO Co. has a 1 year low of $105.77 and a 1 year high of $140.46. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.67 and a beta of 1.31.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing the consensus estimate of $4.03 by ($0.25). The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.47 EPS. Analysts forecast that AGCO Co. will post 13.06 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.97%. AGCO’s dividend payout ratio is currently 7.42%.

AGCO Company 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.