Edge Capital Group LLC Acquires New Stake in AGCO Co. (NYSE:AGCO)

Edge Capital Group LLC acquired a new stake in AGCO Co. (NYSE:AGCO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 420,078 shares of the industrial products company’s stock, valued at approximately $39,269,000. AGCO makes up about 2.1% of Edge Capital Group LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in AGCO by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock valued at $212,000 after buying an additional 110 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 shares during the period. Inspire Investing LLC boosted its holdings in AGCO by 2.8% in the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock valued at $402,000 after purchasing an additional 118 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in AGCO by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after purchasing an additional 126 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on AGCO. Truist Financial increased their price objective on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley assumed coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Oppenheimer increased their target price on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group cut their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $107.20.

AGCO Stock Down 2.9 %

AGCO stock opened at $98.80 on Monday. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $125.76. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of -17.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The firm’s fifty day moving average price is $97.77 and its two-hundred day moving average price is $95.81. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share 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, equities research analysts predict that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

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.