Alberta Investment Management Corp Purchases 24,320 Shares of AGCO Co. (NYSE:AGCO)

Alberta Investment Management Corp raised its position in shares of AGCO Co. (NYSE:AGCO) by 98.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,020 shares of the industrial products company’s stock after purchasing an additional 24,320 shares during the quarter. Alberta Investment Management Corp’s holdings in AGCO were worth $4,582,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in shares of AGCO by 114.7% during the 4th quarter. Venturi Wealth Management LLC now owns 790 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 422 shares during the period. CIBC Asset Management Inc grew its stake in shares of AGCO by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 110 shares during the period. Principal Financial Group Inc. grew its stake in shares of AGCO by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock valued at $66,536,000 after acquiring an additional 27,438 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of AGCO by 2.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 22,877 shares of the industrial products company’s stock valued at $2,139,000 after acquiring an additional 567 shares during the period. Finally, Allworth Financial LP grew its stake in shares of AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 220 shares during the period. 78.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AGCO has been the subject of a number of recent research reports. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. The Goldman Sachs Group lowered their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Oppenheimer boosted their price target on AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $107.20.

AGCO Stock Up 1.4 %

Shares of AGCO opened at $102.97 on Thursday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of -18.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The business’s 50 day simple moving average is $97.64 and its 200-day simple moving average is $95.57. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, equities analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. AGCO’s dividend payout ratio is presently -20.39%.

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.