Cookson Peirce & Co. Inc. Raises Position in AGCO Co. (NYSE:AGCO)

Cookson Peirce & Co. Inc. raised its stake in shares of AGCO Co. (NYSE:AGCO) by 33.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,062 shares of the industrial products company’s stock after purchasing an additional 1,517 shares during the period. Cookson Peirce & Co. Inc.’s holdings in AGCO were worth $736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AGCO. Lecap Asset Management Ltd. bought a new stake in shares of AGCO during the 4th quarter worth approximately $1,082,000. Nordea Investment Management AB lifted its stake in shares of AGCO by 1.7% during the 4th quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after acquiring an additional 1,036 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of AGCO by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after acquiring an additional 32,583 shares during the last quarter. Invesco Ltd. lifted its stake in shares of AGCO by 53.1% during the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after acquiring an additional 130,051 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of AGCO by 45.7% during the 3rd quarter. Schroder Investment Management Group now owns 147,467 shares of the industrial products company’s stock worth $17,442,000 after acquiring an additional 46,239 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Trading Down 0.8 %

Shares of NYSE:AGCO opened at $117.07 on Wednesday. AGCO Co. has a 12-month low of $105.77 and a 12-month high of $140.46. The business’s fifty day simple moving average is $115.57 and its 200-day simple moving average is $117.13. The company has a market capitalization of $8.74 billion, a PE ratio of 7.49, a P/E/G ratio of 0.68 and a beta of 1.31. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business posted $4.47 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that AGCO Co. will post 13.03 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.16 annualized dividend and a yield of 0.99%. AGCO’s dividend payout ratio (DPR) is 7.42%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial assumed coverage on AGCO in a report on Thursday, March 14th. They set a “buy” rating and a $142.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Oppenheimer raised their price objective on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus reduced their price objective on AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, December 19th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AGCO currently has an average rating of “Moderate Buy” and a consensus target price of $150.50.

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.