Gateway Investment Advisers LLC Takes Position in AGCO Co. (NYSE:AGCO)

Gateway Investment Advisers LLC purchased a new stake in shares of AGCO Co. (NYSE:AGCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,992 shares of the industrial products company’s stock, valued at approximately $245,000.

Several other institutional investors have also recently made changes to their positions in the company. Capital Advisors Wealth Management LLC increased its stake in shares of AGCO by 35.5% during the first quarter. Capital Advisors Wealth Management LLC now owns 4,295 shares of the industrial products company’s stock valued at $528,000 after buying an additional 1,126 shares during the period. Global Assets Advisory LLC purchased a new position in shares of AGCO during the first quarter valued at $1,642,000. Polianta Ltd boosted its position in AGCO by 32.0% during the first quarter. Polianta Ltd now owns 9,900 shares of the industrial products company’s stock valued at $1,217,000 after purchasing an additional 2,400 shares in the last quarter. Alaska Permanent Fund Corp boosted its position in AGCO by 10.6% during the first quarter. Alaska Permanent Fund Corp now owns 21,458 shares of the industrial products company’s stock valued at $2,640,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in AGCO during the first quarter valued at about $54,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO opened at $99.22 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The company has a market cap of $7.40 billion, a PE ratio of 6.71, a P/E/G ratio of 0.60 and a beta of 1.31. The business has a 50-day simple moving average of $109.20 and a two-hundred day simple moving average of $114.74. AGCO Co. has a fifty-two week low of $96.60 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the company earned $3.51 earnings per share. As a group, equities analysts expect that AGCO Co. will post 12.18 EPS for the current fiscal year.

AGCO Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.29 per share. This represents a dividend yield of 1%. The ex-dividend date was Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AGCO. Citigroup began coverage on AGCO in a research report on Wednesday. They set a “neutral” rating and a $108.00 price objective on the stock. Oppenheimer dropped their price objective on AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. JPMorgan Chase & Co. dropped their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial dropped their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO presently has an average rating of “Moderate Buy” and a consensus price target of $132.83.

About AGCO

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.