AGCO Co. (NYSE:AGCO) Stake Raised by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. grew its holdings in shares of AGCO Co. (NYSE:AGCO) by 20.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,497 shares of the industrial products company’s stock after buying an additional 1,642 shares during the period. Cascade Investment Advisors Inc.’s holdings in AGCO were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AGCO. Massachusetts Financial Services Co. MA raised its holdings in AGCO by 3,115.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after purchasing an additional 1,155,440 shares in the last quarter. Pacer Advisors Inc. raised its holdings in AGCO by 7,297.1% during the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after purchasing an additional 713,142 shares in the last quarter. Norges Bank bought a new stake in AGCO during the fourth quarter worth approximately $83,733,000. Victory Capital Management Inc. raised its holdings in AGCO by 24.7% during the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after purchasing an additional 601,877 shares in the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in AGCO during the third quarter worth approximately $38,690,000. Institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO traded down $1.11 during trading on Thursday, hitting $107.43. The company had a trading volume of 699,304 shares, compared to its average volume of 724,300. The company has a market cap of $8.02 billion, a P/E ratio of 7.27, a PEG ratio of 0.66 and a beta of 1.32. AGCO Co. has a 52 week low of $105.77 and a 52 week high of $140.46. The business’s 50-day moving average is $117.12 and its 200 day moving average is $116.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.99 billion. During the same period in the previous year, the company posted $3.51 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities research analysts predict that AGCO Co. will post 12.18 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. This represents a yield of 1%. The ex-dividend date is Tuesday, May 14th. AGCO’s payout ratio is 7.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Truist Financial dropped their target price on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Oppenheimer dropped their price target on AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, AGCO has an average rating of “Moderate Buy” and an average target price of $141.83.

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.