Inceptionr LLC Invests $247,000 in AGCO Co. (NYSE:AGCO)

Inceptionr LLC acquired a new position in shares of AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,641 shares of the industrial products company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of AGCO during the 4th quarter worth about $16,845,000. Cullen Frost Bankers Inc. bought a new stake in AGCO in the fourth quarter valued at about $33,000. Arizona State Retirement System increased its stake in AGCO by 0.8% in the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock valued at $1,721,000 after acquiring an additional 150 shares during the period. Charles Schwab Investment Management Inc. increased its stake in AGCO by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,669 shares of the industrial products company’s stock valued at $43,905,000 after acquiring an additional 15,531 shares during the period. Finally, Schechter Investment Advisors LLC increased its stake in AGCO by 5.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 14,185 shares of the industrial products company’s stock valued at $1,326,000 after acquiring an additional 763 shares during the period. Institutional investors own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

AGCO has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley initiated coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Citigroup lowered their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.30.

AGCO Price Performance

Shares of AGCO stock opened at $102.50 on Tuesday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76. The firm’s 50 day moving average is $98.30 and its 200-day moving average is $96.47. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of -18.01, a PEG ratio of 1.80 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (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%. Sell-side analysts forecast that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.13%. AGCO’s payout ratio is -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.