Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,788 Shares of AGCO Co. (NYSE:AGCO)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AGCO Co. (NYSE:AGCO) by 12.9% in the 4th quarter, Holdings Channel reports. The fund owned 15,692 shares of the industrial products company’s stock after buying an additional 1,788 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AGCO were worth $1,467,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AGCO. Brooklyn Investment Group bought a new position in shares of AGCO in the 3rd quarter worth about $29,000. Allworth Financial LP increased its stake in shares of AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares in the last quarter. UMB Bank n.a. grew its position in AGCO by 84.2% during 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 last quarter. Cullen Frost Bankers Inc. purchased a new stake in AGCO during the 4th quarter valued at about $33,000. Finally, LRI Investments LLC grew its position in AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 170 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AGCO has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a research report on Monday. Truist Financial increased their price objective on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Oppenheimer upped their target price on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, AGCO currently has an average rating of “Hold” and a consensus price target of $104.60.

AGCO Price Performance

NYSE:AGCO opened at $94.89 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The business’s 50-day simple moving average is $98.60 and its two-hundred day simple moving average is $96.64. The stock has a market cap of $7.08 billion, a PE ratio of -16.68, a P/E/G ratio of 1.80 and a beta of 1.24. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76.

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

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. AGCO’s payout ratio is -20.39%.

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.