Mitsubishi UFJ Asset Management Co. Ltd. Has $450,000 Stock Position in AGCO Co. (NYSE:AGCO)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,769 shares of the industrial products company’s stock after buying an additional 344 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AGCO were worth $450,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new position in AGCO in the fourth quarter valued at about $26,000. C M Bidwell & Associates Ltd. bought a new position in AGCO in the 3rd quarter valued at approximately $35,000. Allworth Financial LP boosted its position in AGCO by 72.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after buying an additional 120 shares during the period. Denali Advisors LLC grew its holdings in AGCO by 50.0% during the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 103 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in AGCO in the 4th quarter valued at approximately $45,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Stock Up 0.4 %

Shares of AGCO stock opened at $108.53 on Thursday. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 0.67 and a beta of 1.32. The stock’s 50-day moving average is $117.29 and its 200 day moving average is $116.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. AGCO Co. has a one year low of $105.77 and a one year high of $140.46.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm posted $3.51 EPS. The company’s quarterly revenue was down 12.1% on a year-over-year basis. Equities research analysts anticipate that AGCO Co. will post 12.18 EPS for the current year.

AGCO Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.