Ballentine Partners LLC Buys New Position in AGCO Co. (NYSE:AGCO)

Ballentine Partners LLC purchased a new position in shares of AGCO Co. (NYSE:AGCO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,626 shares of the industrial products company’s stock, valued at approximately $245,000.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in AGCO during the third quarter worth about $29,000. UMB Bank n.a. grew its stake in shares of AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in AGCO by 50.0% during the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Trading Up 0.1 %

NYSE AGCO opened at $105.17 on Friday. 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 1-year low of $84.35 and a 1-year high of $130.26. The firm’s fifty day simple moving average is $96.69 and its 200-day simple moving average is $95.26. The company has a market capitalization of $7.85 billion, a PE ratio of 46.53, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the business earned $3.97 earnings per share. As a group, sell-side analysts anticipate that AGCO Co. will post 7.33 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio is 51.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AGCO shares. Morgan Stanley started coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Oppenheimer decreased their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Citigroup dropped their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Truist Financial upped their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.40.

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.