Connable Office Inc. Makes New $361,000 Investment in AGCO Co. (NYSE:AGCO)

Connable Office Inc. purchased a new stake in AGCO Co. (NYSE:AGCO) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 3,691 shares of the industrial products company’s stock, valued at approximately $361,000.

A number of other institutional investors also recently modified their holdings of the company. Forum Financial Management LP raised its position in AGCO by 5.5% in the 2nd quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock valued at $206,000 after buying an additional 109 shares during the last quarter. Capital Insight Partners LLC lifted its position in shares of AGCO by 2.6% in the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 110 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in AGCO by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock worth $1,666,000 after purchasing an additional 126 shares during the last quarter. Farther Finance Advisors LLC grew its position in AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in AGCO by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 5,604 shares of the industrial products company’s stock valued at $549,000 after buying an additional 143 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Up 3.3 %

Shares of NYSE:AGCO opened at $92.37 on Friday. The business’s 50 day simple moving average is $95.75 and its 200 day simple moving average is $98.61. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. 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 company has a market capitalization of $6.89 billion, a P/E ratio of 40.87, a P/E/G ratio of 0.51 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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 firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.97 EPS. On average, research analysts anticipate that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. AGCO’s dividend payout ratio is currently 51.33%.

Wall Street Analyst Weigh In

AGCO has been the topic of a number of recent research reports. UBS Group lowered their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. BMO Capital Markets started coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Citigroup increased their price target on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Truist Financial lifted their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.40.

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.