AGCO Co. (NYSE:AGCO) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 20.5% in the fourth quarter, Holdings Channel reports. The fund owned 26,146 shares of the industrial products company’s stock after purchasing an additional 4,452 shares during the period. Perigon Wealth Management LLC’s holdings in AGCO were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AGCO. Millennium Management LLC lifted its position in AGCO by 172.8% during the 2nd quarter. Millennium Management LLC now owns 100,153 shares of the industrial products company’s stock worth $9,803,000 after acquiring an additional 63,434 shares during the period. Creative Planning lifted its holdings in shares of AGCO by 25.7% in the 2nd quarter. Creative Planning now owns 7,157 shares of the industrial products company’s stock valued at $701,000 after buying an additional 1,465 shares during the period. Quarry LP lifted its holdings in shares of AGCO by 294.9% in the 2nd quarter. Quarry LP now owns 699 shares of the industrial products company’s stock valued at $68,000 after buying an additional 522 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of AGCO in the 2nd quarter valued at approximately $876,000. Finally, Cim LLC lifted its holdings in shares of AGCO by 22.9% in the 2nd quarter. Cim LLC now owns 9,971 shares of the industrial products company’s stock valued at $976,000 after buying an additional 1,858 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

NYSE AGCO opened at $104.12 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The business has a 50 day moving average price of $97.45 and a 200 day moving average price of $95.45. The company has a market capitalization of $7.77 billion, a P/E ratio of 46.07, a PEG ratio of 1.03 and a beta of 1.25. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.97 EPS. Sell-side analysts expect that AGCO Co. will post 7.33 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, February 14th. AGCO’s payout ratio is 51.33%.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Citigroup reduced their price target on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial raised their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Oppenheimer raised their price target on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $107.20.

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.