OFI Invest Asset Management Purchases New Shares in AGCO Co. (NYSE:AGCO)

OFI Invest Asset Management purchased a new stake in shares of AGCO Co. (NYSE:AGCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,822 shares of the industrial products company’s stock, valued at approximately $616,000.

A number of other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after acquiring an additional 538,955 shares during the period. State Street Corp increased its stake in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after purchasing an additional 80,846 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of AGCO by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AGCO by 7.2% in the third quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock worth $121,121,000 after purchasing an additional 80,516 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of AGCO by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock worth $66,536,000 after purchasing an additional 27,438 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Trading Up 6.4 %

Shares of AGCO opened at $102.94 on Monday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -18.09, a PEG 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 Co. has a fifty-two week low of $84.35 and a fifty-two week high of $125.76. The firm has a 50 day moving average price of $98.11 and a 200-day moving average price of $96.37.

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

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. AGCO’s dividend payout ratio is currently -20.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup reduced their price objective on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Truist Financial boosted their price objective on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley assumed coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.30.

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.