Headlands Technologies LLC Invests $121,000 in AGCO Co. (NYSE:AGCO)

Headlands Technologies LLC bought a new stake in shares of AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 999 shares of the industrial products company’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of AGCO by 7,297.1% in the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after buying an additional 713,142 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of AGCO by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock valued at $359,852,000 after purchasing an additional 601,877 shares during the last quarter. Royal London Asset Management Ltd. purchased a new position in AGCO during the third quarter worth $38,690,000. Migdal Insurance & Financial Holdings Ltd. raised its position in AGCO by 83.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 318,000 shares of the industrial products company’s stock worth $37,613,000 after purchasing an additional 145,000 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of AGCO by 16.1% during the third quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock valued at $121,678,000 after buying an additional 142,701 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Oppenheimer lifted their price target on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Finally, Truist Financial started coverage on shares of AGCO in a research report on Thursday, March 14th. They issued a “buy” rating and a $142.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AGCO has a consensus rating of “Moderate Buy” and an average target price of $150.50.

AGCO Stock Performance

Shares of AGCO opened at $119.14 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The stock has a 50-day moving average of $116.23 and a two-hundred day moving average of $117.07. The stock has a market cap of $8.89 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.67 and a beta of 1.31. AGCO Co. has a one year low of $105.77 and a one year high of $140.46.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the firm earned $4.47 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts predict that AGCO Co. will post 13.06 EPS for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, May 14th. AGCO’s payout ratio is 7.42%.

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.