UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in AGCO Co. (NYSE:AGCO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AGCO Co. (NYSE:AGCO) by 67.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 457,175 shares of the industrial products company’s stock after purchasing an additional 183,688 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AGCO were worth $44,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of AGCO by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after buying an additional 63,432 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the period. Pacer Advisors Inc. raised its position in AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after acquiring an additional 538,955 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in AGCO by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock valued at $181,775,000 after acquiring an additional 66,303 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after acquiring an additional 605,509 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Citigroup lifted their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday. They set an “equal weight” rating and a $101.00 target price on the stock. The Goldman Sachs Group cut their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Stock Performance

NYSE AGCO opened at $100.61 on Wednesday. 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 company has a market cap of $7.51 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The stock’s 50 day simple moving average is $97.44 and its 200-day simple moving average is $96.81.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (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 business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $3.97 EPS. AGCO’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AGCO Co. will post 7.34 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. AGCO’s dividend payout ratio (DPR) is presently 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.