KLP Kapitalforvaltning AS Makes New $1.23 Million Investment in AGCO Co. (NYSE:AGCO)

KLP Kapitalforvaltning AS purchased a new stake in AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,200 shares of the industrial products company’s stock, valued at approximately $1,234,000.

A number of other hedge funds also recently made changes to their positions in the business. Allworth Financial LP raised its position in AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 220 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of AGCO in the 3rd quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in shares of AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of AGCO in the 4th quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp lifted its position in shares of AGCO by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock worth $47,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Down 5.3 %

NYSE AGCO opened at $93.58 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76. The stock has a market capitalization of $6.98 billion, a P/E ratio of -16.45, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The stock has a fifty day moving average of $98.56 and a 200-day moving average of $96.94.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, equities research analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. AGCO’s payout ratio is presently -20.39%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. Truist Financial increased their target price on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Oppenheimer upped their price objective on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.60.

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.