Teacher Retirement System of Texas Has $8.54 Million Stake in AGCO Co. (AGCO)
Teacher Retirement System of Texas lifted its holdings in shares of AGCO Co. (NYSE:AGCO) by 170.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,642 shares of the industrial products company’s stock after purchasing an additional 88,707 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.18% of AGCO worth $8,540,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Engineers Gate Manager LP bought a new position in shares of AGCO during the 2nd quarter worth about $1,756,000. Sei Investments Co. lifted its holdings in shares of AGCO by 200.1% during the 2nd quarter. Sei Investments Co. now owns 110,305 shares of the industrial products company’s stock worth $6,698,000 after acquiring an additional 73,550 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of AGCO during the 2nd quarter worth about $1,082,000. State of Wisconsin Investment Board bought a new position in shares of AGCO during the 2nd quarter worth about $1,889,000. Finally, Barings LLC lifted its holdings in shares of AGCO by 18.9% during the 2nd quarter. Barings LLC now owns 56,266 shares of the industrial products company’s stock worth $3,416,000 after acquiring an additional 8,945 shares during the period. Institutional investors own 85.89% of the company’s stock.
Shares of AGCO stock opened at $60.01 on Monday. The stock has a market cap of $4.68 billion, a P/E ratio of 19.87, a PEG ratio of 1.00 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.58. AGCO Co. has a 12-month low of $56.36 and a 12-month high of $75.95.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Wednesday, August 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, August 14th. AGCO’s payout ratio is presently 19.87%.
AGCO has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective on shares of AGCO in a report on Friday, July 20th. Morgan Stanley set a $66.00 target price on shares of AGCO and gave the stock a “sell” rating in a research report on Friday, May 4th. ValuEngine upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. OTR Global cut shares of AGCO to a “$60.18” rating in a research report on Wednesday, July 18th. Finally, Zacks Investment Research upgraded shares of AGCO from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, July 3rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $71.47.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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