Royal London Asset Management Ltd. Purchases 134,651 Shares of AGCO Co. (NYSE:AGCO)

Royal London Asset Management Ltd. lifted its position in AGCO Co. (NYSE:AGCO) by 21.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 758,236 shares of the industrial products company’s stock after purchasing an additional 134,651 shares during the quarter. Royal London Asset Management Ltd. owned 1.02% of AGCO worth $70,880,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of AGCO during the fourth quarter worth approximately $3,144,000. Gateway Investment Advisers LLC purchased a new position in AGCO in the 4th quarter worth $311,000. Olstein Capital Management L.P. raised its position in AGCO by 20.8% in the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock worth $1,355,000 after purchasing an additional 2,500 shares during the period. M&T Bank Corp lifted its stake in AGCO by 133.0% in the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after purchasing an additional 48,198 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in AGCO by 28.2% during the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock valued at $66,959,000 after buying an additional 150,656 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Price Performance

AGCO stock opened at $95.21 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76. The firm has a 50-day moving average of $98.70 and a 200 day moving average of $96.63. The company has a market cap of $7.10 billion, a P/E ratio of -16.73, a PEG ratio of 1.80 and a beta of 1.24.

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

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

Wall Street Analyst Weigh In

AGCO has been the topic of several analyst reports. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Oppenheimer increased their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley began coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.60.

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.