Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in AGCO Co. (NYSE:AGCO)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in AGCO Co. (NYSE:AGCO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,452 shares of the industrial products company’s stock, valued at approximately $790,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in AGCO in the 3rd quarter valued at about $29,000. Allworth Financial LP raised its holdings in AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 220 shares during the last quarter. UMB Bank n.a. raised its holdings in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in AGCO in the 4th quarter valued at about $33,000. Finally, LRI Investments LLC raised its holdings in AGCO by 50.0% in the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 170 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Down 1.4 %

AGCO stock opened at $93.12 on Friday. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $125.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The firm has a 50 day moving average price of $98.83 and a 200 day moving average price of $96.63. The company has a market capitalization of $6.95 billion, a PE ratio of -16.37, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

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 the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. Research analysts expect that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.25%. AGCO’s dividend payout ratio is presently -20.39%.

Wall Street Analyst Weigh In

A number of research firms have commented on AGCO. Oppenheimer increased their price objective on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley initiated coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Finally, Baird R W downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, AGCO presently has a consensus rating of “Hold” and an average target price of $104.60.

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.