OFI Invest Asset Management Makes New $616,000 Investment in AGCO Co. (NYSE:AGCO)

OFI Invest Asset Management acquired a new position in AGCO Co. (NYSE:AGCO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,822 shares of the industrial products company’s stock, valued at approximately $616,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Barings LLC lifted its stake in AGCO by 13.2% during the 4th quarter. Barings LLC now owns 30,386 shares of the industrial products company’s stock valued at $2,840,000 after acquiring an additional 3,549 shares during the period. Edgestream Partners L.P. lifted its stake in shares of AGCO by 46.9% in the 4th quarter. Edgestream Partners L.P. now owns 66,878 shares of the industrial products company’s stock worth $6,252,000 after purchasing an additional 21,357 shares during the period. Marco Investment Management LLC lifted its stake in shares of AGCO by 4.0% in the 4th quarter. Marco Investment Management LLC now owns 13,100 shares of the industrial products company’s stock worth $1,225,000 after purchasing an additional 500 shares during the period. Inceptionr LLC bought a new position in shares of AGCO in the 4th quarter worth approximately $247,000. Finally, Raymond James Financial Inc. bought a new position in shares of AGCO in the 4th quarter worth approximately $16,845,000. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Up 6.4 %

Shares of AGCO opened at $102.94 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76. The company has a 50 day simple moving average of $98.11 and a two-hundred day simple moving average of $96.37. The firm has a market cap of $7.68 billion, a P/E ratio of -18.09, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, equities analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AGCO shares. Truist Financial raised their target price on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup decreased their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.30.

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.