Zions Bancorporation N.A. Purchases 2,003 Shares of AGCO Co. (NYSE:AGCO)

Zions Bancorporation N.A. lifted its position in shares of AGCO Co. (NYSE:AGCO) by 20.6% during the 4th quarter, HoldingsChannel reports. The firm owned 11,732 shares of the industrial products company’s stock after acquiring an additional 2,003 shares during the period. Zions Bancorporation N.A.’s holdings in AGCO were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its position in AGCO by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock valued at $212,000 after buying an additional 110 shares during the period. Inspire Investing LLC increased its stake in shares of AGCO by 2.8% in the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 118 shares in the last quarter. Arizona State Retirement System lifted its position in AGCO by 0.8% during the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock valued at $1,721,000 after acquiring an additional 150 shares during the period. UMB Bank n.a. boosted its stake in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in AGCO by 30.8% in the fourth quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 162 shares during the period. 78.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on AGCO. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Truist Financial boosted their target price on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price target on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, Morgan Stanley began 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. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.60.

AGCO Price Performance

AGCO opened at $95.18 on Wednesday. The company’s 50-day simple moving average is $98.75 and its two-hundred day simple moving average is $96.84. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $125.76. The stock has a market capitalization of $7.10 billion, a P/E ratio of -16.73, a P/E/G ratio of 1.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (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%. As a group, analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

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.