Cwm LLC Raises Stake in AGCO Co. (NYSE:AGCO)

Cwm LLC increased its stake in AGCO Co. (NYSE:AGCO) by 15.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,114 shares of the industrial products company’s stock after buying an additional 797 shares during the quarter. Cwm LLC’s holdings in AGCO were worth $752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AGCO. Massachusetts Financial Services Co. MA boosted its holdings in shares of AGCO by 3,115.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after buying an additional 1,155,440 shares during the last quarter. Pacer Advisors Inc. raised its stake in AGCO by 7,297.1% in the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after acquiring an additional 713,142 shares during the period. Norges Bank bought a new stake in AGCO in the 4th quarter valued at about $83,733,000. Royal London Asset Management Ltd. bought a new stake in AGCO in the 3rd quarter valued at about $38,690,000. Finally, Principal Financial Group Inc. raised its stake in AGCO by 72.8% in the 4th quarter. Principal Financial Group Inc. now owns 428,976 shares of the industrial products company’s stock valued at $52,082,000 after acquiring an additional 180,694 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Trading Down 1.4 %

Shares of AGCO opened at $100.94 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $110.62 and its 200-day moving average price is $115.17. The stock has a market cap of $7.53 billion, a PE ratio of 6.83, a P/E/G ratio of 0.63 and a beta of 1.31. AGCO Co. has a twelve month low of $100.24 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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 company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. AGCO’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.51 earnings per share. On average, equities analysts forecast that AGCO Co. will post 12.18 EPS for the current fiscal year.

AGCO Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AGCO. Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. decreased their price target 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, Oppenheimer decreased their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.83.

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.