First Horizon Advisors Inc. Increases Stake in AGCO Co. (NYSE:AGCO)

First Horizon Advisors Inc. lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 28.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526 shares of the industrial products company’s stock after acquiring an additional 117 shares during the period. First Horizon Advisors Inc.’s holdings in AGCO were worth $51,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in AGCO during the 1st quarter worth approximately $30,000. Blue Trust Inc. raised its stake in shares of AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of AGCO by 132.9% during the 3rd 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 139 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in AGCO by 2,238.9% during the 1st quarter. Bessemer Group Inc. now owns 421 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 403 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AGCO has been the topic of several research reports. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Truist Financial upped their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Oppenheimer dropped their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price 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. Finally, Robert W. Baird dropped their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AGCO presently has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Stock Performance

Shares of AGCO stock opened at $98.43 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The firm’s 50-day simple moving average is $96.49 and its 200-day simple moving average is $97.63. The firm has a market cap of $7.35 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 0.55 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced 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). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the company earned $3.97 EPS. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. Equities analysts forecast that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm 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. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.18%. AGCO’s dividend payout ratio (DPR) is 51.33%.

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.