Balyasny Asset Management L.P. Buys 40,661 Shares of AGCO Co. (NYSE:AGCO)

Balyasny Asset Management L.P. increased its stake in shares of AGCO Co. (NYSE:AGCO) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 571,133 shares of the industrial products company’s stock after purchasing an additional 40,661 shares during the quarter. Balyasny Asset Management L.P. owned about 0.77% of AGCO worth $53,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GeoWealth Management LLC acquired a new stake in shares of AGCO in the 4th quarter valued at $27,000. Allworth Financial LP lifted its position in AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. lifted its holdings in AGCO by 84.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of AGCO in the 4th quarter valued at $33,000. Finally, Jones Financial Companies Lllp boosted its position in shares of AGCO by 112.3% in the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO stock opened at $96.06 on Tuesday. The company has a fifty day moving average price of $89.53 and a two-hundred day moving average price of $94.76. AGCO Co. has a one year low of $73.79 and a one year high of $119.71. The stock has a market cap of $7.16 billion, a P/E ratio of -16.88, a P/E/G ratio of 1.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.03 by $0.38. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. AGCO’s revenue was down 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.32 EPS. As a group, equities analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.16 annualized dividend and a yield of 1.21%. AGCO’s payout ratio is currently -14.87%.

Analyst Ratings Changes

AGCO has been the topic of several analyst reports. Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Morgan Stanley downgraded shares of AGCO from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $94.00 to $75.00 in a research report on Wednesday, April 16th. UBS Group set a $106.00 price objective on shares of AGCO in a report on Tuesday, April 22nd. Truist Financial cut their target price on shares of AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Oppenheimer decreased their price target on shares of AGCO from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.80.

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.