Massachusetts Financial Services Co. MA Raises Position in AGCO Co. (NYSE:AGCO)

Massachusetts Financial Services Co. MA boosted its position in AGCO Co. (NYSE:AGCO) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,857,505 shares of the industrial products company’s stock after purchasing an additional 66,303 shares during the period. Massachusetts Financial Services Co. MA owned about 2.49% of AGCO worth $181,775,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC bought a new position in shares of AGCO during the 1st quarter worth $30,000. Blue Trust Inc. boosted its position in AGCO by 102.4% during the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares during the period. Venturi Wealth Management LLC increased its stake in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake 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 valued at $41,000 after buying an additional 139 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Stock Up 1.0 %

AGCO stock opened at $98.41 on Friday. The company’s 50 day moving average is $96.34 and its 200 day moving average is $97.88. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 0.52 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the firm earned $3.97 EPS. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. Sell-side analysts predict that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is currently 51.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AGCO. BMO Capital Markets began coverage on shares of AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective for the company. Truist Financial lifted their price target on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Oppenheimer dropped their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup lifted their target price on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AGCO presently has a consensus rating of “Hold” and a consensus target price of $114.40.

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.