Cullen Frost Bankers Inc. Makes New $33,000 Investment in AGCO Co. (NYSE:AGCO)

Cullen Frost Bankers Inc. bought a new stake in AGCO Co. (NYSE:AGCO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 350 shares of the industrial products company’s stock, valued at approximately $33,000.

Several other large investors have also modified their holdings of AGCO. Pacer Advisors Inc. boosted its holdings in shares of AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after buying an additional 538,955 shares in the last quarter. Edge Capital Group LLC acquired a new position in shares of AGCO in the 4th quarter valued at $39,269,000. Barclays PLC raised its position in AGCO by 386.8% in the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after purchasing an additional 198,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AGCO by 67.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,175 shares of the industrial products company’s stock valued at $44,739,000 after purchasing an additional 183,688 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in AGCO by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock valued at $66,959,000 after purchasing an additional 150,656 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Truist Financial upped their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup reduced their price target on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Finally, Morgan Stanley began coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.30.

AGCO Stock Down 0.2 %

Shares of AGCO stock opened at $102.50 on Tuesday. The firm has a fifty day moving average of $98.30 and a two-hundred day moving average of $96.47. 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 company has a market cap of $7.64 billion, a P/E ratio of -18.01, a PEG ratio of 1.80 and a beta of 1.24. AGCO Co. has a one year low of $84.35 and a one year high of $125.76.

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

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. AGCO’s payout ratio is -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.