M&T Bank Corp Acquires 3,642 Shares of AGCO Co. (NYSE:AGCO)

M&T Bank Corp grew its holdings in AGCO Co. (NYSE:AGCO) by 121.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,644 shares of the industrial products company’s stock after buying an additional 3,642 shares during the quarter. M&T Bank Corp’s holdings in AGCO were worth $806,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AGCO. Great Valley Advisor Group Inc. boosted its holdings in AGCO by 28.3% in the fourth quarter. Great Valley Advisor Group Inc. now owns 22,379 shares of the industrial products company’s stock valued at $2,717,000 after acquiring an additional 4,931 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of AGCO by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock valued at $371,586,000 after buying an additional 18,209 shares during the period. SummerHaven Investment Management LLC raised its stake in AGCO by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in AGCO by 1.8% in the fourth quarter. Retirement Systems of Alabama now owns 152,976 shares of the industrial products company’s stock worth $18,573,000 after buying an additional 2,643 shares during the period. Finally, Headlands Technologies LLC bought a new stake in AGCO during the 4th quarter valued at approximately $121,000. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Down 0.2 %

Shares of NYSE AGCO opened at $116.05 on Monday. The company has a market cap of $8.66 billion, a PE ratio of 7.85, a P/E/G ratio of 0.72 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The firm’s 50 day moving average price is $117.30 and its 200-day moving average price is $116.98. AGCO Co. has a 52-week low of $105.77 and a 52-week high of $140.46.

AGCO (NYSE:AGCO) last issued its 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. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the business posted $3.51 EPS. The company’s revenue was down 12.1% compared to the same quarter last year. On average, equities research analysts expect that AGCO Co. will post 12.05 EPS for the current fiscal year.

AGCO Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio is currently 7.85%.

Analysts Set New Price Targets

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