Arizona State Retirement System Has $1.72 Million Position in AGCO Co. (NYSE:AGCO)

Arizona State Retirement System boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,414 shares of the industrial products company’s stock after acquiring an additional 150 shares during the period. Arizona State Retirement System’s holdings in AGCO were worth $1,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGCO. Brooklyn Investment Group bought a new position in shares of AGCO in the third quarter worth $29,000. Allworth Financial LP lifted its position in AGCO by 333.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. grew its stake in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after buying an additional 139 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $116.00 to $100.00 in a report on Monday, March 3rd. Citigroup decreased their price target on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Oppenheimer lifted their target price on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $104.30.

AGCO Stock Performance

Shares of AGCO stock opened at $97.87 on Wednesday. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of -17.20, a PEG ratio of 1.80 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $98.38 and its 200-day moving average price is $96.52. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $125.76.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Equities research analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio is currently -20.39%.

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.