Spire Wealth Management Purchases 47,104 Shares of AGCO Co. (NYSE:AGCO)

Spire Wealth Management raised its stake in AGCO Co. (NYSE:AGCO) by 6,533.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,825 shares of the industrial products company’s stock after acquiring an additional 47,104 shares during the period. Spire Wealth Management’s holdings in AGCO were worth $5,627,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new position in AGCO in the fourth quarter valued at about $26,000. BluePath Capital Management LLC bought a new stake in AGCO during the 3rd quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. purchased a new position in AGCO during the 3rd quarter valued at approximately $35,000. Allworth Financial LP grew its holdings in AGCO by 72.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after buying an additional 120 shares in the last quarter. Finally, Denali Advisors LLC grew its holdings in AGCO by 50.0% during the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after buying an additional 103 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AGCO shares. Truist Financial dropped their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their target price on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday. Oppenheimer dropped their target price on AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.83.

AGCO Trading Up 3.3 %

AGCO stock traded up $3.68 during mid-day trading on Monday, hitting $115.49. The company’s stock had a trading volume of 985,802 shares, compared to its average volume of 715,732. AGCO Co. has a 1 year low of $105.77 and a 1 year high of $140.46. The stock’s fifty day moving average is $116.61 and its two-hundred day moving average is $116.89. The firm has a market capitalization of $8.62 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the firm earned $3.51 earnings per share. On average, analysts anticipate that AGCO Co. will post 12 EPS for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, May 20th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, May 17th. AGCO’s payout ratio is currently 7.85%.

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.