1,957 Shares in AGCO Co. (NYSE:AGCO) Acquired by Avestar Capital LLC

Avestar Capital LLC purchased a new stake in shares of AGCO Co. (NYSE:AGCOFree Report) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,957 shares of the industrial products company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its stake in shares of AGCO by 30.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after acquiring an additional 7,539 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of AGCO in the fourth quarter valued at about $1,082,000. UBS Group AG grew its position in AGCO by 106.8% during the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock worth $23,328,000 after buying an additional 99,212 shares in the last quarter. Corient Private Wealth LLC lifted its stake in AGCO by 176.1% during the fourth quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock worth $2,656,000 after purchasing an additional 13,952 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in AGCO by 6.5% during the fourth quarter. Vontobel Holding Ltd. now owns 106,351 shares of the industrial products company’s stock worth $12,912,000 after purchasing an additional 6,494 shares during the period. 78.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Truist Financial dropped their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Oppenheimer lowered their target price on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

Check Out Our Latest Report on AGCO

AGCO Price Performance

Shares of AGCO stock opened at $107.33 on Friday. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. AGCO Co. has a 12-month low of $102.76 and a 12-month high of $140.46. The firm has a fifty day moving average of $116.02 and a 200-day moving average of $116.42. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCOGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.51 EPS. On average, equities research analysts forecast that AGCO Co. will post 12.18 earnings per share for the current year.

AGCO Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a dividend yield of 1%. AGCO’s dividend payout ratio is 7.85%.

About AGCO

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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