Geode Capital Management LLC Boosts Stock Holdings in AGCO Co. (NYSE:AGCO)

Geode Capital Management LLC lifted its holdings in AGCO Co. (NYSE:AGCO) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,234,326 shares of the industrial products company’s stock after acquiring an additional 29,099 shares during the quarter. Geode Capital Management LLC’s holdings in AGCO were worth $120,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP raised its holdings in AGCO by 333.3% in 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 in the last quarter. UMB Bank n.a. raised its stake in shares of AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of AGCO during the 4th quarter worth approximately $33,000. LRI Investments LLC boosted its stake in AGCO by 50.0% in the third 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in AGCO by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 265 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Down 3.1 %

Shares of AGCO opened at $75.85 on Wednesday. The stock’s 50-day moving average price is $95.24 and its 200-day moving average price is $96.47. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -13.33, a PEG ratio of 1.80 and a beta of 1.16. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $125.76.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS 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%. On average, sell-side analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.53%. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

Analysts Set New Price Targets

Several research analysts recently issued reports on AGCO shares. JPMorgan Chase & Co. upped their target price 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 shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. StockNews.com downgraded shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. Finally, Truist Financial dropped their price objective on shares of AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $100.90.

AGCO Company 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.