Texas Permanent School Fund Corp Grows Stake in AGCO Co. (NYSE:AGCO)

Texas Permanent School Fund Corp raised its stake in shares of AGCO Co. (NYSE:AGCO) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,393 shares of the industrial products company’s stock after purchasing an additional 704 shares during the period. Texas Permanent School Fund Corp owned 0.07% of AGCO worth $6,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Buck Wealth Strategies LLC bought a new stake in shares of AGCO in the 1st quarter worth about $1,991,000. Pegasus Asset Management Inc. boosted its position in shares of AGCO by 0.9% during the first quarter. Pegasus Asset Management Inc. now owns 29,052 shares of the industrial products company’s stock valued at $3,574,000 after buying an additional 249 shares during the period. FinTrust Capital Advisors LLC grew its stake in shares of AGCO by 121.9% during the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of AGCO by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 68,850 shares of the industrial products company’s stock worth $8,426,000 after acquiring an additional 7,022 shares during the last quarter. Finally, Access Investment Management LLC purchased a new position in AGCO during the 1st quarter valued at $916,000. 78.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AGCO has been the subject of several research analyst reports. Oppenheimer decreased their price target on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Truist Financial decreased their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. cut their target price on shares of AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. The Goldman Sachs Group dropped their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Raymond James assumed coverage on AGCO in a report on Friday, June 28th. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.14.

AGCO Price Performance

NYSE AGCO traded up $0.76 on Friday, hitting $97.96. The company had a trading volume of 37,530 shares, compared to its average volume of 743,741. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. The company has a market capitalization of $7.31 billion, a PE ratio of 6.58, a PEG ratio of 0.60 and a beta of 1.27. AGCO Co. has a 12-month low of $92.75 and a 12-month high of $140.46. The company’s fifty day moving average price is $104.69 and its 200-day moving average price is $112.99.

AGCO (NYSE:AGCO) last announced its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company posted $3.51 EPS. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. As a group, analysts predict that AGCO Co. will post 11.64 earnings per share for the current year.

AGCO Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a yield of 1%. AGCO’s dividend payout ratio (DPR) is currently 7.85%.

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.