Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 8,452 AGCO Co. (NYSE:AGCO)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in AGCO Co. (NYSE:AGCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,452 shares of the industrial products company’s stock, valued at approximately $790,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGCO. Atria Investments Inc purchased a new position in AGCO in the 3rd quarter valued at approximately $372,000. Thrivent Financial for Lutherans lifted its position in shares of AGCO by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 109,493 shares of the industrial products company’s stock worth $10,715,000 after purchasing an additional 532 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 117 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of AGCO by 3.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of AGCO by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,138 shares of the industrial products company’s stock worth $44,442,000 after purchasing an additional 13,737 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE:AGCO opened at $93.12 on Friday. 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 firm has a market capitalization of $6.95 billion, a P/E ratio of -16.37, a P/E/G ratio of 1.80 and a beta of 1.24. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $125.76. The company’s fifty day moving average price is $98.83 and its 200 day moving average price is $96.63.

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

AGCO Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Citigroup lifted their price objective on shares of AGCO from $95.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, March 17th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley assumed coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $104.60.

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.