Farther Finance Advisors LLC Grows Position in AGCO Co. (NYSE:AGCO)

Farther Finance Advisors LLC lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 50.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 416 shares of the industrial products company’s stock after acquiring an additional 139 shares during the period. Farther Finance Advisors LLC’s holdings in AGCO were worth $41,000 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 company. SG Americas Securities LLC grew its position in AGCO by 252.0% during the 1st quarter. SG Americas Securities LLC now owns 8,317 shares of the industrial products company’s stock worth $1,023,000 after acquiring an additional 5,954 shares during the last quarter. Sei Investments Co. boosted its position in AGCO by 28.6% during the 1st quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock valued at $7,853,000 after acquiring an additional 14,201 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of AGCO by 8.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,305 shares of the industrial products company’s stock worth $2,809,000 after acquiring an additional 1,755 shares during the period. Vanguard Group Inc. raised its position in shares of AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after acquiring an additional 784,617 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of AGCO by 575.9% in the 1st quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock valued at $5,125,000 after purchasing an additional 35,500 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AGCO. The Goldman Sachs Group decreased their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Barclays lowered their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Truist Financial lifted their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $114.40.

AGCO Stock Up 3.3 %

AGCO stock opened at $92.37 on Friday. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock has a fifty day simple moving average of $95.75 and a two-hundred day simple moving average of $98.61. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 0.51 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. AGCO’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.97 earnings per share. Equities analysts predict that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. AGCO’s dividend payout ratio (DPR) is currently 51.33%.

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.