Illinois Municipal Retirement Fund Purchases 18,922 Shares of AGCO Co. (NYSE:AGCO)

Illinois Municipal Retirement Fund increased its holdings in shares of AGCO Co. (NYSE:AGCO) by 104.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,044 shares of the industrial products company’s stock after buying an additional 18,922 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in AGCO were worth $3,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in shares of AGCO by 1.1% during the fourth quarter. Amalgamated Bank now owns 29,510 shares of the industrial products company’s stock worth $2,759,000 after purchasing an additional 315 shares during the period. Bank of New York Mellon Corp increased its stake in AGCO by 23.6% during the 4th quarter. Bank of New York Mellon Corp now owns 699,435 shares of the industrial products company’s stock worth $65,383,000 after purchasing an additional 133,492 shares in the last quarter. Edge Capital Group LLC acquired a new stake in AGCO during the 4th quarter worth approximately $39,269,000. Union Bancaire Privee UBP SA bought a new position in AGCO in the fourth quarter valued at approximately $844,000. Finally, First Horizon Advisors Inc. lifted its stake in AGCO by 30.8% in the fourth quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company’s stock valued at $64,000 after buying an additional 162 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Performance

Shares of NYSE AGCO opened at $96.95 on Thursday. The stock has a market capitalization of $7.24 billion, a PE ratio of -17.04, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76. The stock has a 50 day moving average price of $97.85 and a 200 day moving average price of $95.95. 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 released 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 negative net margin of 3.64% and a positive return on equity of 13.40%. Analysts predict that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their price objective on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Oppenheimer increased their target price on AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley assumed coverage on AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Finally, The Goldman Sachs Group dropped their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $107.20.

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.