Van ECK Associates Corp Acquires 137 Shares of AGCO Co. (NYSE:AGCO)

Van ECK Associates Corp lifted its holdings in AGCO Co. (NYSE:AGCO) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,113 shares of the industrial products company’s stock after acquiring an additional 137 shares during the period. Van ECK Associates Corp owned 0.23% of AGCO worth $15,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in shares of AGCO during the 3rd quarter worth about $29,000. UMB Bank n.a. lifted its stake in AGCO by 84.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares during the period. Farther Finance Advisors LLC grew its stake in shares of AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after buying an additional 139 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of AGCO by 50.0% in the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO stock opened at $98.02 on Friday. AGCO Co. has a one year low of $84.35 and a one year high of $125.76. The company has a market capitalization of $7.32 billion, a PE ratio of -17.23, a P/E/G ratio of 0.97 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.72 and a current ratio of 1.34. The company has a 50-day simple moving average of $97.51 and a two-hundred day simple moving average of $95.38.

AGCO (NYSE:AGCO) last posted its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. Research analysts expect that AGCO Co. will post 4.22 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

Analysts Set New Price Targets

Several equities analysts have commented on AGCO shares. Citigroup cut their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial upped their price target on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley began coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Oppenheimer upped their target price on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO has an average rating of “Hold” and an average target price of $107.20.

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.