Ceeto Capital Group LLC Makes New Investment in AGCO Co. (NYSE:AGCO)

Ceeto Capital Group LLC acquired a new stake in AGCO Co. (NYSE:AGCO) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,400 shares of the industrial products company’s stock, valued at approximately $664,000.

Other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in shares of AGCO during the fourth quarter valued at $26,000. FinTrust Capital Advisors LLC lifted its position in AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the period. Manchester Capital Management LLC boosted its stake in shares of AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of AGCO during the 1st quarter worth approximately $30,000. Finally, Allworth Financial LP raised its stake in shares of AGCO by 72.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after buying an additional 120 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AGCO shares. Truist Financial reduced their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Raymond James began coverage on AGCO in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Oppenheimer dropped their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Barclays reduced their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Finally, Citigroup started coverage on AGCO in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price target for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $126.63.

AGCO Stock Up 1.6 %

Shares of NYSE:AGCO traded up $1.68 during trading on Friday, hitting $103.52. 562,203 shares of the company’s stock traded hands, compared to its average volume of 774,534. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $101.58 and a 200-day moving average price of $111.33. AGCO Co. has a 52 week low of $92.75 and a 52 week high of $136.42. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.70 and a beta of 1.27.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the firm posted $3.51 earnings per share. The business’s revenue was down 12.1% on a year-over-year basis. As a group, research analysts forecast that AGCO Co. will post 10.95 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

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.