Nordea Investment Management AB Acquires 4,143 Shares of AGCO Co. (NYSE:AGCO)

Nordea Investment Management AB boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 5.5% during the 4th quarter, HoldingsChannel reports. The fund owned 78,808 shares of the industrial products company’s stock after purchasing an additional 4,143 shares during the period. Nordea Investment Management AB’s holdings in AGCO were worth $7,392,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AGCO. Brooklyn Investment Group purchased a new stake in AGCO during the 3rd quarter valued at $29,000. Venturi Wealth Management LLC raised its stake in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the last quarter. LRI Investments LLC boosted its stake in shares of AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 170 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Oppenheimer decreased their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup upped their target price on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. The Goldman Sachs Group lowered their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial increased their target price on AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.10.

AGCO Stock Down 1.6 %

AGCO stock opened at $90.13 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The stock has a market capitalization of $6.73 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 0.56 and a beta of 1.25. The firm has a 50 day moving average of $95.33 and a 200 day moving average of $95.05.

AGCO (NYSE:AGCO) last released its earnings results 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 firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. AGCO’s revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.97 earnings per share. Sell-side analysts forecast that AGCO Co. will post 7.36 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, November 15th. AGCO’s dividend payout ratio is presently 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.