Pinebridge Investments L.P. Boosts Stock Position in AGCO Co. (NYSE:AGCO)

Pinebridge Investments L.P. boosted its holdings in shares of AGCO Co. (NYSE:AGCO) by 42.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,675 shares of the industrial products company’s stock after purchasing an additional 7,087 shares during the period. Pinebridge Investments L.P.’s holdings in AGCO were worth $2,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AGCO. Price T Rowe Associates Inc. MD boosted its stake in shares of AGCO by 128.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock valued at $608,026,000 after purchasing an additional 3,654,350 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in AGCO by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company’s stock worth $278,951,000 after buying an additional 258,054 shares during the period. Invesco Ltd. boosted its position in AGCO by 68.7% during the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock valued at $220,641,000 after acquiring an additional 961,081 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AGCO by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,234,326 shares of the industrial products company’s stock worth $120,172,000 after acquiring an additional 29,099 shares during the period. Finally, First Trust Advisors LP raised its position in shares of AGCO by 15.4% in the 4th quarter. First Trust Advisors LP now owns 1,118,393 shares of the industrial products company’s stock worth $104,547,000 after acquiring an additional 148,896 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

AGCO has been the subject of several recent research reports. Truist Financial lowered their price objective on AGCO from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Oppenheimer lowered their price target on shares of AGCO from $109.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Morgan Stanley lowered shares of AGCO from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $94.00 to $75.00 in a report on Wednesday, April 16th. Finally, UBS Group set a $106.00 price target on AGCO in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO presently has a consensus rating of “Hold” and a consensus price target of $99.80.

AGCO Price Performance

AGCO opened at $83.75 on Monday. The company’s 50-day simple moving average is $90.62 and its two-hundred day simple moving average is $95.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The stock has a market capitalization of $6.25 billion, a P/E ratio of -14.72, a P/E/G ratio of 1.80 and a beta of 1.16. AGCO Co. has a 52-week low of $73.79 and a 52-week high of $119.88.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share 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%. As a group, analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, May 15th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

About AGCO

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.