GAMMA Investing LLC Purchases New Stake in AGCO Co. (NYSE:AGCO)

GAMMA Investing LLC acquired a new position in shares of AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 371 shares of the industrial products company’s stock, valued at approximately $45,000.

Several other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of AGCO by 7,297.1% in the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Victory Capital Management Inc. lifted its stake in AGCO by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock valued at $359,852,000 after acquiring an additional 601,877 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in AGCO during the 3rd quarter worth $38,690,000. AQR Capital Management LLC grew its stake in shares of AGCO by 16.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock worth $121,678,000 after acquiring an additional 142,701 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of AGCO by 53.1% in the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after acquiring an additional 130,051 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Analysts Set New Price Targets

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

AGCO Price Performance

Shares of NYSE:AGCO opened at $111.79 on Friday. The firm has a market capitalization of $8.34 billion, a PE ratio of 7.15, a P/E/G ratio of 0.64 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 1.46 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $116.61 and a two-hundred day moving average price of $116.90. AGCO Co. has a twelve month low of $105.77 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a net margin of 8.13% and a return on equity of 26.96%. The company 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 company posted $3.51 EPS. AGCO’s revenue was down 12.1% compared to the same quarter last year. Equities analysts forecast that AGCO Co. will post 13.06 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is presently 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.