Massachusetts Financial Services Co. MA Acquires 66,303 Shares of AGCO Co. (NYSE:AGCO)

Massachusetts Financial Services Co. MA lifted its holdings in shares of AGCO Co. (NYSE:AGCO) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,857,505 shares of the industrial products company’s stock after purchasing an additional 66,303 shares during the period. Massachusetts Financial Services Co. MA’s holdings in AGCO were worth $181,775,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new stake in AGCO during the first quarter valued at about $30,000. Blue Trust Inc. lifted its stake in shares of AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in 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 acquiring an additional 210 shares during the period. First Horizon Advisors Inc. grew its position in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake 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. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Trading Up 1.0 %

Shares of NYSE AGCO opened at $98.41 on Friday. The firm’s 50 day moving average price is $96.34 and its 200-day moving average price is $97.88. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The company has a market cap of $7.35 billion, a PE ratio of 43.54, a P/E/G ratio of 0.52 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The business had revenue of $2.60 billion during 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 business’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the company posted $3.97 earnings per share. On average, equities research analysts expect that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AGCO shares. BMO Capital Markets assumed coverage on AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. UBS Group lowered their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Oppenheimer dropped their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of AGCO from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, AGCO currently has an average rating of “Hold” and an average price target of $114.40.

AGCO Company 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.