Texas Permanent School Fund Corp Boosts Holdings in AGCO Co. (NYSE:AGCO)

Texas Permanent School Fund Corp boosted its position in shares of AGCO Co. (NYSE:AGCOFree Report) by 1.3% in the first quarter, Holdings Channel.com reports. The firm owned 54,393 shares of the industrial products company’s stock after acquiring an additional 704 shares during the period. Texas Permanent School Fund Corp’s holdings in AGCO were worth $6,691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in AGCO in the fourth quarter valued at $26,000. FinTrust Capital Advisors LLC raised its stake in AGCO by 121.9% during the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares in the last quarter. Allworth Financial LP lifted its holdings in AGCO by 72.3% during the 4th 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. American National Bank acquired a new position in shares of AGCO in the 4th quarter worth approximately $37,000. Finally, Denali Advisors LLC raised its position in shares of AGCO by 50.0% during the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

AGCO has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th. Oppenheimer decreased their target price on AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Raymond James began coverage on AGCO in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Citigroup initiated coverage on AGCO in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AGCO has a consensus rating of “Moderate Buy” and an average target price of $129.14.

Check Out Our Latest Analysis on AGCO

AGCO Price Performance

AGCO stock traded up $0.76 during trading hours on Friday, hitting $97.96. 37,530 shares of the company traded hands, compared to its average volume of 743,741. The firm’s 50-day simple moving average is $104.69 and its two-hundred day simple moving average is $112.99. The firm has a market cap of $7.31 billion, a P/E ratio of 6.58, a P/E/G ratio of 0.60 and a beta of 1.27. AGCO Co. has a 1-year low of $92.75 and a 1-year high of $140.46. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCOGet Free Report) last announced its earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.51 earnings per share. As a group, analysts forecast that AGCO Co. will post 11.64 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a $0.29 dividend. This represents a yield of 1%. The ex-dividend date of this dividend was Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

AGCO Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Co. (NYSE:AGCOFree Report).

Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

Receive News & Ratings for AGCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO and related companies with MarketBeat.com's FREE daily email newsletter.