Amalgamated Bank Buys 315 Shares of AGCO Co. (NYSE:AGCO)

Amalgamated Bank raised its stake in AGCO Co. (NYSE:AGCO) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,510 shares of the industrial products company’s stock after purchasing an additional 315 shares during the quarter. Amalgamated Bank’s holdings in AGCO were worth $2,759,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after acquiring an additional 538,955 shares during the last quarter. State Street Corp boosted its holdings in shares of AGCO by 4.3% during the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after purchasing an additional 80,846 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of AGCO by 3.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares during the last quarter. Geode Capital Management LLC increased its holdings in AGCO by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock valued at $121,121,000 after purchasing an additional 80,516 shares during the period. Finally, Principal Financial Group Inc. raised its position in AGCO by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock valued at $66,536,000 after purchasing an additional 27,438 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Performance

Shares of AGCO opened at $97.04 on Friday. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a market cap of $7.24 billion, a P/E ratio of -17.05, a P/E/G ratio of 1.80 and a beta of 1.25. The business’s 50 day moving average price is $98.06 and its 200-day moving average price is $96.04.

AGCO (NYSE:AGCO) last released 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 positive return on equity of 13.40% and a negative net margin of 3.64%. Equities research analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. AGCO’s dividend payout ratio is currently -20.39%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of several research analyst reports. Citigroup reduced their target price on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley started coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. Truist Financial raised their target price on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Oppenheimer boosted their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $107.20.

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.