Ontario Teachers Pension Plan Board Has $2.94 Million Stake in AGCO Co. (NYSE:AGCO)

Ontario Teachers Pension Plan Board lifted its stake in AGCO Co. (NYSE:AGCO) by 483.0% during the first quarter, Holdings Channel.com reports. The fund owned 21,706 shares of the industrial products company’s stock after buying an additional 17,983 shares during the period. Ontario Teachers Pension Plan Board’s holdings in AGCO were worth $2,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Delta Asset Management LLC TN acquired a new position in AGCO during the fourth quarter worth approximately $28,000. Covington Capital Management increased its position in AGCO by 227.8% during the third quarter. Covington Capital Management now owns 377 shares of the industrial products company’s stock worth $36,000 after buying an additional 262 shares during the last quarter. Freedom Wealth Alliance LLC acquired a new position in AGCO during the fourth quarter worth approximately $38,000. Parallel Advisors LLC increased its position in AGCO by 197.4% during the first quarter. Parallel Advisors LLC now owns 345 shares of the industrial products company’s stock worth $47,000 after buying an additional 229 shares during the last quarter. Finally, Fortis Capital Advisors LLC acquired a new position in AGCO during the first quarter worth approximately $59,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AGCO shares. Oppenheimer lowered their price target on AGCO from $158.00 to $153.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Citigroup boosted their price objective on AGCO from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, StockNews.com began coverage on AGCO in a report on Thursday, August 17th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and an average target price of $154.64.

AGCO Stock Down 1.4 %

Shares of NYSE:AGCO opened at $119.87 on Thursday. The company has a fifty day moving average of $128.86 and a 200-day moving average of $127.24. The company has a market capitalization of $8.98 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.57. AGCO Co. has a 52-week low of $93.53 and a 52-week high of $145.53.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $4.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.57. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.69 billion. AGCO had a net margin of 7.84% and a return on equity of 29.56%. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 earnings per share. On average, equities analysts predict that AGCO Co. will post 15.19 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a yield of 0.97%. AGCO’s payout ratio is 7.82%.

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.