Gotham Asset Management LLC Acquires 29,546 Shares of AGCO Co. (NYSE:AGCO)

Gotham Asset Management LLC grew its stake in shares of AGCO Co. (NYSE:AGCO) by 34.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,826 shares of the industrial products company’s stock after purchasing an additional 29,546 shares during the quarter. Gotham Asset Management LLC owned approximately 0.15% of AGCO worth $10,734,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of AGCO by 128.2% during the fourth 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 during the period. Dimensional Fund Advisors LP raised its stake in shares of AGCO by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company’s stock valued at $278,951,000 after acquiring an additional 258,054 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of AGCO by 1.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company’s stock valued at $256,522,000 after acquiring an additional 39,966 shares during the last quarter. Invesco Ltd. raised its stake in shares of AGCO by 68.7% during the fourth 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 during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of AGCO by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,234,326 shares of the industrial products company’s stock valued at $120,172,000 after acquiring an additional 29,099 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO opened at $99.41 on Monday. AGCO Co. has a fifty-two week low of $73.79 and a fifty-two week high of $119.71. The company has a 50 day simple moving average of $89.76 and a two-hundred day simple moving average of $94.65. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -17.47, a P/E/G ratio of 1.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.38. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $2.32 earnings per share. The business’s revenue for the quarter was down 30.0% on a year-over-year basis. Analysts expect that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. AGCO’s payout ratio is presently -14.87%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup upped their target price on AGCO from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 5th. Oppenheimer decreased their target price on AGCO from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. UBS Group set a $106.00 target price on AGCO in a report on Tuesday, April 22nd. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.80.

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.