Raymond James Financial Inc. Makes New $16.85 Million Investment in AGCO Co. (NYSE:AGCO)

Raymond James Financial Inc. acquired a new position in shares of AGCO Co. (NYSE:AGCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 180,200 shares of the industrial products company’s stock, valued at approximately $16,845,000. Raymond James Financial Inc. owned 0.24% of AGCO at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in shares of AGCO by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 110 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 117 shares in the last quarter. Inspire Investing LLC raised its stake in shares of AGCO by 2.8% during the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 118 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of AGCO by 0.7% during the 3rd 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 in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of AGCO by 0.8% during the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock worth $1,721,000 after purchasing an additional 150 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial raised their price target on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Oppenheimer raised their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Baird R W downgraded AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley initiated coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $104.60.

AGCO Stock Performance

Shares of NYSE AGCO opened at $95.43 on Tuesday. 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 moving average is $98.54 and its two-hundred day moving average is $96.61. The company has a market cap of $7.12 billion, a P/E ratio of -16.77, a P/E/G ratio of 1.80 and a beta of 1.24. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $125.76.

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 analysts expect that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

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