Royal London Asset Management Ltd. Has $61.02 Million Holdings in AGCO Co. (NYSE:AGCO)

Royal London Asset Management Ltd. boosted its holdings in AGCO Co. (NYSE:AGCO) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 623,585 shares of the industrial products company’s stock after acquiring an additional 12,328 shares during the period. Royal London Asset Management Ltd.’s holdings in AGCO were worth $61,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in AGCO in the third quarter valued at about $13,242,000. Erste Asset Management GmbH acquired a new stake in AGCO in the third quarter valued at about $2,424,000. ARGA Investment Management LP boosted its stake in AGCO by 71.9% in the third quarter. ARGA Investment Management LP now owns 15,891 shares of the industrial products company’s stock valued at $1,555,000 after buying an additional 6,646 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in AGCO in the third quarter valued at about $2,264,000. Finally, Verition Fund Management LLC boosted its stake in AGCO by 61.7% in the third quarter. Verition Fund Management LLC now owns 8,297 shares of the industrial products company’s stock valued at $812,000 after buying an additional 3,167 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

NYSE:AGCO opened at $97.46 on Friday. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $7.27 billion, a PE ratio of 43.12, a price-to-earnings-growth ratio of 0.57 and a beta of 1.24. The stock’s 50-day moving average price is $97.55 and its 200-day moving average price is $96.84.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.97 earnings per share. As a group, equities analysts expect that AGCO Co. will post 7.34 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm 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 $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. AGCO’s dividend payout ratio (DPR) is 51.33%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer cut their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. BMO Capital Markets started coverage on AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective on the stock. Finally, Morgan Stanley began coverage on AGCO in a report on Tuesday. They issued an “equal weight” rating and a $101.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.18.

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.