Hennion & Walsh Asset Management Inc. Increases Stake in AGCO Co. (NYSE:AGCO)

Hennion & Walsh Asset Management Inc. lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 17.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,785 shares of the industrial products company’s stock after buying an additional 423 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in AGCO were worth $343,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board grew its holdings in 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. purchased a new position in AGCO in the fourth quarter valued at $1,082,000. UBS Group AG raised its stake in AGCO by 106.8% in the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after buying an additional 99,212 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in AGCO by 176.1% during the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock worth $2,656,000 after buying an additional 13,952 shares during the last quarter. Finally, Cim LLC acquired a new position in shares of AGCO during the 4th quarter worth about $994,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AGCO has been the topic of several research analyst reports. Citigroup began coverage on AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 target price on the stock. Raymond James began coverage on shares of AGCO in a research report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial dropped their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Oppenheimer reduced their price target on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. dropped their price objective on AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

AGCO Trading Up 0.6 %

Shares of AGCO stock opened at $96.62 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The company has a market capitalization of $7.21 billion, a P/E ratio of 6.54, a PEG ratio of 0.62 and a beta of 1.27. AGCO Co. has a 1 year low of $95.03 and a 1 year high of $140.46. The company’s fifty day moving average is $107.08 and its two-hundred day moving average is $114.01.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the firm posted $3.51 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. Analysts forecast that AGCO Co. will post 11.78 earnings per share for the current year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a yield of 1%. AGCO’s dividend payout ratio (DPR) is 7.85%.

AGCO Company 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.