Retirement Systems of Alabama Increases Position in AGCO Co. (NYSE:AGCO)

Retirement Systems of Alabama increased its stake in shares of AGCO Co. (NYSE:AGCO) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,976 shares of the industrial products company’s stock after buying an additional 2,643 shares during the quarter. Retirement Systems of Alabama owned about 0.20% of AGCO worth $18,573,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AGCO. Rakuten Securities Inc. purchased a new position in shares of AGCO during the 4th quarter valued at about $26,000. FinTrust Capital Advisors LLC purchased a new position in shares of AGCO during the 3rd quarter valued at about $26,000. Legacy Financial Group LLC purchased a new position in shares of AGCO during the 3rd quarter valued at about $27,000. Allworth Financial LP raised its stake in shares of AGCO by 72.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after buying an additional 120 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new position in shares of AGCO during the 3rd quarter valued at about $35,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Trading Down 4.2 %

AGCO stock opened at $114.12 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. AGCO Co. has a 12-month low of $105.77 and a 12-month high of $140.46. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.67 and a beta of 1.31. The business’s 50-day moving average is $116.38 and its 200 day moving average is $117.04.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm posted $4.47 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that AGCO Co. will post 13.06 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s payout ratio is 7.42%.

Analyst Upgrades and Downgrades

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

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.