Alberta Investment Management Corp Purchases 24,320 Shares of AGCO Co. (NYSE:AGCO)

Alberta Investment Management Corp lifted its position in AGCO Co. (NYSE:AGCO) by 98.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,020 shares of the industrial products company’s stock after purchasing an additional 24,320 shares during the period. Alberta Investment Management Corp owned about 0.07% of AGCO worth $4,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in AGCO by 114.7% in the fourth quarter. Venturi Wealth Management LLC now owns 790 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 422 shares during the period. CIBC Asset Management Inc lifted its stake in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 110 shares during the period. Principal Financial Group Inc. lifted its stake in AGCO by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock worth $66,536,000 after acquiring an additional 27,438 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in AGCO by 2.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,877 shares of the industrial products company’s stock worth $2,139,000 after acquiring an additional 567 shares during the period. Finally, Allworth Financial LP lifted its stake in AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares during the period. Institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AGCO shares. JPMorgan Chase & Co. raised their price objective on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Truist Financial raised their price objective on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Oppenheimer raised their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley started coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, AGCO presently has an average rating of “Hold” and an average price target of $107.20.

AGCO Price Performance

AGCO opened at $102.97 on Thursday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76. The stock has a 50-day moving average price of $97.64 and a 200-day moving average price of $95.57. The firm has a market cap of $7.69 billion, a PE ratio of -18.10, a P/E/G ratio of 1.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate 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 predict that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.13%. AGCO’s payout ratio is -20.39%.

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.