US Bancorp DE Increases Stake in AGCO Co. (NYSE:AGCO)

US Bancorp DE boosted its stake in AGCO Co. (NYSE:AGCO) by 29.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,623 shares of the industrial products company’s stock after buying an additional 368 shares during the period. US Bancorp DE’s holdings in AGCO were worth $159,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. LRI Investments LLC purchased a new position in AGCO during the first quarter valued at $30,000. Blue Trust Inc. lifted its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares during the period. First Horizon Advisors Inc. boosted its stake in AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares in the last quarter. Bessemer Group Inc. grew its holdings in AGCO by 2,238.9% in the first quarter. Bessemer Group Inc. now owns 421 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 403 shares during the period. Finally, Trust Co. of Vermont increased its stake in shares of AGCO by 2,400.0% during the third quarter. Trust Co. of Vermont now owns 550 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 528 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

AGCO has been the topic of several recent research reports. Oppenheimer cut their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets assumed coverage on AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price on the stock. UBS Group cut their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Truist Financial lifted their target price on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $114.40.

AGCO Stock Performance

NYSE AGCO opened at $93.74 on Friday. The business has a 50-day moving average price of $95.94 and a 200-day moving average price of $98.39. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 41.48, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the company earned $3.97 EPS. As a group, equities research analysts predict that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio is 51.33%.

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.