The Manufacturers Life Insurance Company Has $9.38 Million Position in AGCO Co. (NYSE:AGCO)

The Manufacturers Life Insurance Company grew its position in AGCO Co. (NYSE:AGCO) by 3.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 95,874 shares of the industrial products company’s stock after acquiring an additional 2,844 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of AGCO worth $9,383,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Qsemble Capital Management LP bought a new position in shares of AGCO during the third quarter valued at $479,000. Great Valley Advisor Group Inc. boosted its holdings in AGCO by 9.0% in the third quarter. Great Valley Advisor Group Inc. now owns 33,820 shares of the industrial products company’s stock valued at $3,310,000 after acquiring an additional 2,781 shares during the last quarter. Raymond James Trust N.A. increased its position in AGCO by 48.0% during the 3rd quarter. Raymond James Trust N.A. now owns 8,519 shares of the industrial products company’s stock valued at $834,000 after purchasing an additional 2,763 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of AGCO by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,138 shares of the industrial products company’s stock valued at $44,442,000 after purchasing an additional 13,737 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after acquiring an additional 538,955 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AGCO. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Citigroup upped their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial raised their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, BMO Capital Markets started coverage on shares of AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, AGCO currently has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Stock Performance

Shares of AGCO opened at $100.61 on Wednesday. The stock has a 50 day moving average of $97.44 and a 200 day moving average of $96.81. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 0.58 and a beta of 1.24.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $3.97 earnings per share. As a group, sell-side analysts forecast that AGCO Co. will post 7.34 earnings per share for the current year.

AGCO Dividend Announcement

The company 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 $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.15%. AGCO’s payout ratio is 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.