191,586 Shares in AGCO Co. (NYSE:AGCO) Acquired by Ilex Capital Partners UK LLP

Ilex Capital Partners UK LLP bought a new position in AGCO Co. (NYSE:AGCO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 191,586 shares of the industrial products company’s stock, valued at approximately $23,569,000. AGCO comprises approximately 2.3% of Ilex Capital Partners UK LLP’s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Raymond James & Associates increased its position in AGCO by 136.5% in the 4th quarter. Raymond James & Associates now owns 83,208 shares of the industrial products company’s stock worth $10,102,000 after buying an additional 48,025 shares during the period. Mendota Financial Group LLC increased its position in AGCO by 14.4% in the 4th quarter. Mendota Financial Group LLC now owns 852 shares of the industrial products company’s stock worth $103,000 after buying an additional 107 shares during the period. Denali Advisors LLC increased its position in AGCO by 50.0% in the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after buying an additional 103 shares during the period. Chicago Capital LLC bought a new position in AGCO in the 4th quarter worth approximately $1,761,000. Finally, Nvest Financial LLC increased its position in AGCO by 56.8% in the 4th quarter. Nvest Financial LLC now owns 4,545 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,647 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

NYSE:AGCO traded down $5.82 during trading hours on Tuesday, reaching $96.23. The company had a trading volume of 1,760,829 shares, compared to its average volume of 755,492. The stock has a 50-day moving average of $101.42 and a two-hundred day moving average of $111.15. AGCO Co. has a one year low of $92.75 and a one year high of $136.42. The firm has a market capitalization of $7.18 billion, a PE ratio of 6.51, a PEG ratio of 0.71 and a beta of 1.27. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the business posted $3.51 earnings per share. The business’s revenue was down 12.1% compared to the same quarter last year. Analysts forecast that AGCO Co. will post 10.95 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AGCO. Raymond James began coverage on AGCO in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Barclays lowered their price objective on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 18th. Oppenheimer lowered their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group lowered their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $126.63.

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.