SummerHaven Investment Management LLC Increases Holdings in AGCO Co. (NYSE:AGCO)

SummerHaven Investment Management LLC boosted its position in AGCO Co. (NYSE:AGCO) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,383 shares of the industrial products company’s stock after purchasing an additional 91 shares during the period. SummerHaven Investment Management LLC’s holdings in AGCO were worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of AGCO by 7,297.1% in the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Victory Capital Management Inc. lifted its stake in AGCO by 24.7% in the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after purchasing an additional 601,877 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in AGCO during the third quarter valued at about $38,690,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of AGCO by 83.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 318,000 shares of the industrial products company’s stock valued at $37,613,000 after buying an additional 145,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of AGCO by 16.1% during the third quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock valued at $121,678,000 after buying an additional 142,701 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Oppenheimer boosted their price objective on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Truist Financial began coverage on shares of AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.50.

AGCO Price Performance

Shares of AGCO stock opened at $119.14 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The firm has a market cap of $8.89 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.67 and a beta of 1.31. The business’s 50 day moving average price is $116.23 and its 200-day moving average price is $117.07. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the firm earned $4.47 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts anticipate that AGCO Co. will post 13.06 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, May 14th. AGCO’s payout ratio is currently 7.42%.

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.