State Street Corp Purchases 80,846 Shares of AGCO Co. (NYSE:AGCO)

State Street Corp grew its holdings in shares of AGCO Co. (NYSE:AGCO) by 4.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,978,963 shares of the industrial products company’s stock after purchasing an additional 80,846 shares during the period. State Street Corp’s holdings in AGCO were worth $193,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Forum Financial Management LP boosted its holdings in AGCO by 5.5% in the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 109 shares in the last quarter. Capital Insight Partners LLC grew its position in shares of AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 110 shares during the period. First Horizon Advisors Inc. grew its position in shares of AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 117 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of AGCO by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock worth $1,666,000 after purchasing an additional 126 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Stock Down 1.9 %

AGCO opened at $96.75 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 firm has a 50-day simple moving average of $97.56 and a two-hundred day simple moving average of $96.48. The company has a market capitalization of $7.22 billion, a PE ratio of 42.81, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.97 earnings per share. Analysts forecast that AGCO Co. will post 7.36 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group reduced their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Oppenheimer reduced their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Truist Financial increased their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $113.18.

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.