Axxcess Wealth Management LLC Takes $220,000 Position in AGCO Co. (NYSE:AGCO)

Axxcess Wealth Management LLC acquired a new position in shares of AGCO Co. (NYSE:AGCO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,809 shares of the industrial products company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp increased its position in AGCO by 121.3% in the 4th quarter. M&T Bank Corp now owns 6,644 shares of the industrial products company’s stock worth $806,000 after buying an additional 3,642 shares during the period. Great Valley Advisor Group Inc. increased its position in AGCO by 28.3% during the fourth quarter. Great Valley Advisor Group Inc. now owns 22,379 shares of the industrial products company’s stock worth $2,717,000 after acquiring an additional 4,931 shares during the period. Victory Capital Management Inc. raised its stake in AGCO by 0.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock valued at $371,586,000 after purchasing an additional 18,209 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in AGCO by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock valued at $654,000 after purchasing an additional 91 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in AGCO by 1.8% in the 4th quarter. Retirement Systems of Alabama now owns 152,976 shares of the industrial products company’s stock valued at $18,573,000 after purchasing an additional 2,643 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Trading Up 2.1 %

AGCO stock opened at $116.31 on Friday. AGCO Co. has a 1-year low of $105.77 and a 1-year high of $140.46. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $117.18 and its 200-day moving average is $116.89. The firm has a market cap of $8.68 billion, a P/E ratio of 7.87, a P/E/G ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business’s revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.51 earnings per share. Equities analysts anticipate that AGCO Co. will post 12 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio is currently 7.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGCO. StockNews.com lowered shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Oppenheimer reduced their price objective on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. decreased their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Truist Financial cut their target price on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.

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.