Brandes Investment Partners LP Buys Shares of 9,176 AGCO Co. (NYSE:AGCO)

Brandes Investment Partners LP bought a new stake in shares of AGCO Co. (NYSE:AGCO) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 9,176 shares of the industrial products company’s stock, valued at approximately $858,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of AGCO by 333.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of AGCO during the third quarter worth about $29,000. UMB Bank n.a. grew its position in shares of AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of AGCO during the fourth quarter worth about $33,000. Finally, Venturi Wealth Management LLC grew its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO opened at $94.10 on Friday. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $125.76. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of -16.54, a PEG ratio of 1.80 and a beta of 1.24. The firm has a 50-day moving average of $98.45 and a two-hundred day moving average of $96.53.

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%. As a group, analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, February 14th. AGCO’s dividend payout ratio is presently -20.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Truist Financial increased their target price on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup decreased their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, AGCO currently has a consensus rating of “Hold” and a consensus price target of $104.30.

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.