Crossmark Global Holdings Inc. Acquires 9,956 Shares of AGCO Co. (NYSE:AGCO)

Crossmark Global Holdings Inc. grew its holdings in AGCO Co. (NYSE:AGCO) by 150.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,591 shares of the industrial products company’s stock after purchasing an additional 9,956 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in AGCO were worth $1,624,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its stake in shares of AGCO by 711.4% during the 3rd quarter. Covestor Ltd now owns 1,777 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 1,558 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of AGCO during the third quarter valued at about $372,000. Verdence Capital Advisors LLC boosted its holdings in shares of AGCO by 7.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,271 shares of the industrial products company’s stock valued at $320,000 after buying an additional 236 shares in the last quarter. Verity Asset Management Inc. grew its position in shares of AGCO by 69.7% in the 3rd quarter. Verity Asset Management Inc. now owns 5,198 shares of the industrial products company’s stock worth $509,000 after buying an additional 2,135 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its stake in shares of AGCO by 100.0% during the 3rd quarter. Olstein Capital Management L.P. now owns 12,000 shares of the industrial products company’s stock worth $1,174,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AGCO. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a report on Tuesday. Truist Financial lifted their price objective on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup increased their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets began coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.40.

AGCO Price Performance

AGCO stock opened at $89.48 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The company’s fifty day moving average price is $95.75 and its 200 day moving average price is $98.61. The stock has a market capitalization of $6.68 billion, a P/E ratio of 39.59, a P/E/G ratio of 0.51 and a beta of 1.25. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26.

AGCO (NYSE:AGCO) last posted 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 firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.97 earnings per share. As a group, equities research analysts anticipate that AGCO Co. will post 7.32 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.30%. AGCO’s payout ratio is 51.33%.

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.