Zions Bancorporation N.A. Purchases 2,003 Shares of AGCO Co. (NYSE:AGCO)

Zions Bancorporation N.A. increased its position in shares of AGCO Co. (NYSE:AGCO) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,732 shares of the industrial products company’s stock after acquiring an additional 2,003 shares during the period. Zions Bancorporation N.A.’s holdings in AGCO were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of AGCO in the third quarter worth $29,000. Allworth Financial LP increased its stake in AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of AGCO during the 4th quarter valued at about $33,000. Finally, LRI Investments LLC grew its holdings in shares of AGCO by 50.0% during the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 170 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Price Performance

AGCO stock opened at $95.18 on Wednesday. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -16.73, a PEG ratio of 1.80 and a beta of 1.24. The firm’s 50-day moving average price is $98.75 and its two-hundred day moving average price is $96.84. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $125.76.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) 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%. As a group, equities analysts predict that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, February 14th. AGCO’s payout ratio is currently -20.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley initiated coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Citigroup increased their target price on AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, March 17th. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.60.

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.