Edge Capital Group LLC Takes $39.27 Million Position in AGCO Co. (NYSE:AGCO)

Edge Capital Group LLC bought a new stake in AGCO Co. (NYSE:AGCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 420,078 shares of the industrial products company’s stock, valued at approximately $39,269,000. AGCO makes up approximately 2.1% of Edge Capital Group LLC’s investment portfolio, making the stock its 9th largest position. Edge Capital Group LLC owned approximately 0.56% of AGCO as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. increased its stake in shares of AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after acquiring an additional 538,955 shares during the last quarter. State Street Corp increased its position in AGCO by 4.3% during the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after buying an additional 80,846 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in AGCO by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after buying an additional 66,303 shares during the last quarter. Geode Capital Management LLC increased its position in AGCO by 7.2% during the third quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock worth $121,121,000 after buying an additional 80,516 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in AGCO by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock worth $66,536,000 after buying an additional 27,438 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AGCO. The Goldman Sachs Group decreased their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Oppenheimer upped their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Truist Financial upped their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $107.20.

AGCO Stock Performance

NYSE AGCO opened at $98.80 on Monday. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of -17.36, a PEG ratio of 1.85 and a beta of 1.25. The company has a 50 day moving average of $97.77 and a 200-day moving average of $95.81. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $125.76.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share 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%. On average, equities analysts forecast that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.17%. AGCO’s dividend payout ratio is -20.39%.

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.