AGCO Co. (NYSE:AGCO) Shares Acquired by AIA Group Ltd

AIA Group Ltd increased its holdings in shares of AGCO Co. (NYSE:AGCO) by 40.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,549 shares of the industrial products company’s stock after purchasing an additional 3,345 shares during the period. AIA Group Ltd’s holdings in AGCO were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its holdings in shares of AGCO by 30.0% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after purchasing an additional 7,539 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in AGCO in the fourth quarter valued at $1,082,000. UBS Group AG increased its holdings in AGCO by 106.8% in the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after buying an additional 99,212 shares in the last quarter. Corient Private Wealth LLC increased its holdings in AGCO by 176.1% in the fourth quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after buying an additional 13,952 shares in the last quarter. Finally, Cim LLC purchased a new position in AGCO in the fourth quarter valued at $994,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of NYSE AGCO traded up $0.85 during midday trading on Friday, reaching $98.05. 753,405 shares of the company were exchanged, compared to its average volume of 813,038. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. AGCO Co. has a 1 year low of $92.75 and a 1 year high of $140.46. The stock has a fifty day simple moving average of $104.41 and a 200 day simple moving average of $112.83. The stock has a market cap of $7.32 billion, a P/E ratio of 6.63, a PEG ratio of 0.62 and a beta of 1.27.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the company earned $3.51 EPS. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, research analysts forecast that AGCO Co. will post 11.64 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. AGCO’s dividend payout ratio is currently 7.85%.

Analyst Ratings Changes

AGCO has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday. Truist Financial cut their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Citigroup initiated coverage on shares of AGCO in a research note on Wednesday, June 26th. They set a “neutral” rating and a $108.00 target price for the company. Oppenheimer cut their target price on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Finally, Raymond James initiated coverage on shares of AGCO in a research note on Friday, June 28th. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AGCO has an average rating of “Moderate Buy” and an average price target of $129.14.

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.