US Bancorp DE Raises Stock Holdings in AGCO Co. (NYSE:AGCO)

US Bancorp DE boosted its holdings in shares of AGCO Co. (NYSE:AGCO) by 29.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,623 shares of the industrial products company’s stock after acquiring an additional 368 shares during the quarter. US Bancorp DE’s holdings in AGCO were worth $159,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in shares of AGCO during the first quarter valued at $30,000. Blue Trust Inc. lifted its holdings in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after buying an additional 174 shares in the last quarter. First Horizon Advisors Inc. boosted its position in AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after buying an additional 167 shares during the period. Bessemer Group Inc. grew its stake in AGCO by 2,238.9% in the 1st quarter. Bessemer Group Inc. now owns 421 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 403 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of AGCO by 2,400.0% during the third quarter. Trust Co. of Vermont now owns 550 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 528 shares during the period. Institutional investors own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

AGCO has been the topic of several research analyst reports. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday. 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. Robert W. Baird lowered their price objective on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer cut their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AGCO has a consensus rating of “Hold” and an average price target of $114.40.

AGCO Trading Up 1.9 %

Shares of NYSE:AGCO opened at $93.74 on Friday. The business’s 50-day moving average is $95.94 and its 200 day moving average is $98.39. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The firm has a market capitalization of $7.00 billion, a P/E ratio of 41.48, a P/E/G ratio of 0.51 and a beta of 1.25.

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

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 1.24%. AGCO’s dividend payout ratio (DPR) is 51.33%.

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.