Everence Capital Management Inc. Purchases New Stake in AGCO Co. (NYSE:AGCO)

Everence Capital Management Inc. acquired a new position in shares of AGCO Co. (NYSE:AGCO) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,520 shares of the industrial products company’s stock, valued at approximately $236,000.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the period. Pacer Advisors Inc. grew its holdings in AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after purchasing an additional 538,955 shares during the last quarter. State Street Corp increased its position in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock valued at $193,661,000 after buying an additional 80,846 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of AGCO by 3.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after buying an additional 66,303 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of AGCO by 53.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock worth $171,090,000 after buying an additional 605,509 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Oppenheimer dropped their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Truist Financial increased their price target on shares of AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Morgan Stanley assumed coverage on AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price on the stock. Finally, The Goldman Sachs Group cut their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, AGCO currently has a consensus rating of “Hold” and an average target price of $108.10.

AGCO Stock Performance

NYSE AGCO opened at $90.13 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $6.73 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 0.56 and a beta of 1.25. The business’s 50-day moving average price is $95.54 and its 200 day moving average price is $95.09. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. AGCO’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 earnings per share. On average, research analysts predict that AGCO Co. will post 7.36 earnings per share for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s payout ratio is currently 51.33%.

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.