Vanguard Group Inc. Acquires 24,940 Shares of AGCO Co. (NYSE:AGCO)

Vanguard Group Inc. raised its holdings in AGCO Co. (NYSE:AGCO) by 0.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,780,497 shares of the industrial products company’s stock after acquiring an additional 24,940 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of AGCO worth $823,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Strs Ohio grew its position in shares of AGCO by 0.7% during the 4th quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock worth $1,467,000 after buying an additional 87 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of AGCO by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares in the last quarter. State of Michigan Retirement System grew its position in shares of AGCO by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after buying an additional 100 shares in the last quarter. Denali Advisors LLC grew its position in shares of AGCO by 50.0% during the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after buying an additional 103 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of AGCO by 30.1% during the 4th quarter. Venturi Wealth Management LLC now owns 445 shares of the industrial products company’s stock worth $54,000 after buying an additional 103 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Trading Up 0.0 %

AGCO stock opened at $100.95 on Friday. The stock has a 50-day moving average of $110.24 and a two-hundred day moving average of $115.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. AGCO Co. has a one year low of $99.88 and a one year high of $140.46. The stock has a market cap of $7.53 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 0.63 and a beta of 1.31.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm’s revenue was down 12.1% compared to the same quarter last year. During the same period last year, the business posted $3.51 earnings per share. On average, research analysts anticipate that AGCO Co. will post 12.18 EPS for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued 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 is presently 7.85%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. decreased their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Oppenheimer decreased their price objective on AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.83.

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.