Johnson Financial Group Inc. Buys New Stake in AGCO Co. (NYSE:AGCO)

Johnson Financial Group Inc. bought a new stake in shares of AGCO Co. (NYSE:AGCOFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,870 shares of the industrial products company’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in shares of AGCO in the fourth quarter worth $26,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of AGCO in the third quarter worth $35,000. Allworth Financial LP increased its stake in shares of AGCO by 72.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 120 shares during the period. American National Bank acquired a new stake in shares of AGCO in the fourth quarter worth $37,000. Finally, Denali Advisors LLC increased its stake in shares of AGCO by 50.0% in the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

AGCO has been the topic of a number of research reports. Oppenheimer cut their price objective on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Truist Financial cut 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. StockNews.com lowered shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AGCO currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.83.

Read Our Latest Research Report on AGCO

AGCO Stock Performance

AGCO stock traded down $0.89 during midday trading on Friday, hitting $106.56. 535,163 shares of the stock traded hands, compared to its average volume of 860,306. The firm has a market cap of $7.95 billion, a P/E ratio of 7.21, a PEG ratio of 0.65 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. The stock’s fifty day simple moving average is $116.92 and its 200-day simple moving average is $116.68. AGCO Co. has a 1-year low of $105.77 and a 1-year high of $140.46.

AGCO (NYSE:AGCOGet Free Report) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the business earned $3.51 earnings per share. On average, analysts expect that AGCO Co. will post 12.18 earnings per share for the current year.

AGCO Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a dividend yield of 1%. AGCO’s dividend payout ratio (DPR) is 7.85%.

About AGCO

(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.

See Also

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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