ARGA Investment Management LP Buys 6,646 Shares of AGCO Co. (NYSE:AGCO)

ARGA Investment Management LP increased its stake in shares of AGCO Co. (NYSE:AGCO) by 71.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,891 shares of the industrial products company’s stock after purchasing an additional 6,646 shares during the period. ARGA Investment Management LP’s holdings in AGCO were worth $1,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of AGCO in the 3rd quarter valued at $29,000. LRI Investments LLC increased its holdings in shares of AGCO by 94.3% in the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 165 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 lifted its holdings in shares of AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of AGCO by 69.0% during the 2nd 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 in the last quarter. Institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AGCO. The Goldman Sachs Group lowered their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. BMO Capital Markets assumed coverage on shares of AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. Citigroup boosted their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial increased their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, AGCO currently has a consensus rating of “Hold” and a consensus price target of $114.40.

AGCO Trading Down 0.2 %

Shares of NYSE:AGCO opened at $101.21 on Friday. The company has a 50-day simple moving average of $97.22 and a 200 day simple moving average of $97.10. The company has a market capitalization of $7.55 billion, a P/E ratio of 44.78, a price-to-earnings-growth ratio of 0.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm posted $3.97 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. Sell-side analysts forecast that AGCO Co. will post 7.34 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently disclosed 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. This represents a $1.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 15th. AGCO’s payout ratio is presently 51.33%.

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.