Principal Securities Inc. Makes New $91,000 Investment in AGCO Co. (NYSE:AGCO)

Principal Securities Inc. purchased a new stake in AGCO Co. (NYSE:AGCO) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 753 shares of the industrial products company’s stock, valued at approximately $91,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AGCO. Rakuten Securities Inc. acquired a new position in AGCO during the 4th quarter valued at about $26,000. Allworth Financial LP boosted its holdings in AGCO by 72.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after buying an additional 120 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of AGCO in the 3rd quarter worth $35,000. Denali Advisors LLC increased its stake in AGCO by 50.0% in the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 103 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of AGCO by 122.1% during the third quarter. Venturi Wealth Management LLC now owns 342 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 188 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AGCO Price Performance

NYSE:AGCO opened at $108.14 on Wednesday. The company’s 50-day moving average price is $117.46 and its two-hundred day moving average price is $116.88. AGCO Co. has a 12 month low of $105.77 and a 12 month high of $140.46. The firm has a market cap of $8.07 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 0.68 and a beta of 1.32. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.51 EPS. On average, equities analysts anticipate that AGCO Co. will post 12.04 EPS for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a yield of 1%. AGCO’s dividend payout ratio is currently 7.85%.

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.