AGCO Co. (NYSE:AGCO) Holdings Raised by Verity Asset Management Inc.

Verity Asset Management Inc. increased its position in shares of AGCO Co. (NYSE:AGCO) by 69.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,198 shares of the industrial products company’s stock after purchasing an additional 2,135 shares during the quarter. Verity Asset Management Inc.’s holdings in AGCO were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AGCO. Manchester Capital Management LLC boosted its holdings in shares of AGCO by 93.2% during the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 110 shares during the period. LRI Investments LLC acquired a new position in shares of AGCO during the first quarter worth approximately $30,000. Blue Trust Inc. boosted its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 174 shares during the period. First Horizon Advisors Inc. grew its stake in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

NYSE AGCO opened at $94.12 on Friday. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26. The firm’s 50 day moving average is $95.67 and its 200-day moving average is $99.49. The company has a market capitalization of $7.03 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned $3.97 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts anticipate that AGCO Co. will post 7.87 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.23%. AGCO’s dividend payout ratio (DPR) is presently 20.71%.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of research analyst reports. BMO Capital Markets assumed coverage on shares of AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target for the company. Truist Financial boosted their price target on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group reduced their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group decreased their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Oppenheimer reduced their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.40.

AGCO Company 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.