AGCO Co. (NYSE:AGCO) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of AGCO Co. (NYSE:AGCO) by 173,056.7% in the fourth quarter, HoldingsChannel reports. The firm owned 51,947 shares of the industrial products company’s stock after purchasing an additional 51,917 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AGCO were worth $4,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of AGCO during the fourth quarter valued at approximately $3,144,000. Gateway Investment Advisers LLC bought a new stake in AGCO during the 4th quarter valued at $311,000. Olstein Capital Management L.P. boosted its position in AGCO by 20.8% during the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 2,500 shares during the period. M&T Bank Corp grew its stake in shares of AGCO by 133.0% in the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after purchasing an additional 48,198 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of AGCO by 2.0% during the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock valued at $61,024,000 after purchasing an additional 12,328 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Price Performance

NYSE AGCO opened at $92.69 on Wednesday. The stock’s 50-day moving average price is $98.16 and its two-hundred day moving average price is $97.03. The company has a market cap of $6.91 billion, a PE ratio of -16.29, a PEG ratio of 1.80 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.25%. AGCO’s dividend payout ratio is -20.39%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AGCO. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Morgan Stanley initiated coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. Truist Financial boosted their target price on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.60.

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.