Principal Financial Group Inc. Boosts Position in AGCO Co. (NYSE:AGCO)

Principal Financial Group Inc. boosted its position in AGCO Co. (NYSE:AGCO) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 711,687 shares of the industrial products company’s stock after purchasing an additional 27,438 shares during the period. Principal Financial Group Inc. owned about 0.95% of AGCO worth $66,536,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after purchasing an additional 538,955 shares in the last quarter. Barclays PLC grew its holdings in AGCO by 386.8% during the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after purchasing an additional 198,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AGCO by 67.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,175 shares of the industrial products company’s stock worth $44,739,000 after buying an additional 183,688 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of AGCO during the 3rd quarter valued at about $13,242,000. Finally, State Street Corp lifted its position in shares of AGCO by 4.3% during the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock valued at $193,661,000 after buying an additional 80,846 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Price Performance

NYSE:AGCO opened at $102.97 on Thursday. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of -18.10, a PEG ratio of 1.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The business has a 50 day simple moving average of $97.64 and a 200-day simple moving average of $95.57. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Equities analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AGCO shares. Morgan Stanley assumed coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Truist Financial upped their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their target price on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Finally, Citigroup dropped their price target on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $107.20.

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.