Entropy Technologies LP Invests $1.98 Million in AGCO Co. (NYSE:AGCO)

Entropy Technologies LP purchased a new stake in AGCO Co. (NYSE:AGCO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,219 shares of the industrial products company’s stock, valued at approximately $1,979,000.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of AGCO by 103.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock valued at $153,814,000 after purchasing an additional 799,429 shares during the last quarter. Vanguard Group Inc. grew its position in AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after buying an additional 784,617 shares during the last quarter. AQR Capital Management LLC increased its stake in AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after buying an additional 605,509 shares during the period. Massachusetts Financial Services Co. MA raised its position in AGCO by 28.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after buying an additional 391,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after acquiring an additional 335,092 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Oppenheimer dropped their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets began coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Stock Performance

NYSE:AGCO opened at $90.34 on Wednesday. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a market capitalization of $6.74 billion, a P/E ratio of 39.97, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $95.75 and a two-hundred day moving average price of $98.67.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.97 earnings per share. As a group, research analysts expect that AGCO Co. will post 7.3 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, November 15th. AGCO’s payout ratio is currently 51.33%.

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.