AGCO Co. (NYSE:AGCO) Stake Increased by Utah Retirement Systems

Posted by Defense World Staff on Mar 13th, 2023

Utah Retirement Systems boosted its holdings in shares of AGCO Co. (NYSE:AGCO – Get Rating) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,142 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in AGCO were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of AGCO by 4.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,901 shares of the industrial products company’s stock valued at $1,433,000 after purchasing an additional 654 shares during the period. Lazard Asset Management LLC boosted its position in AGCO by 50.3% during the third quarter. Lazard Asset Management LLC now owns 108,153 shares of the industrial products company’s stock worth $10,401,000 after purchasing an additional 36,205 shares during the period. CenterBook Partners LP boosted its position in AGCO by 41.0% during the third quarter. CenterBook Partners LP now owns 29,768 shares of the industrial products company’s stock worth $2,863,000 after purchasing an additional 8,655 shares during the period. WINTON GROUP Ltd boosted its position in AGCO by 46.4% during the third quarter. WINTON GROUP Ltd now owns 3,763 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 1,192 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of AGCO by 363.2% in the third quarter. Prudential Financial Inc. now owns 386,082 shares of the industrial products company’s stock valued at $37,130,000 after acquiring an additional 302,728 shares during the period. 75.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Robert B. Crain sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $132.67, for a total transaction of $1,724,710.00. Following the sale, the senior vice president now owns 40,167 shares of the company’s stock, valued at $5,328,955.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Torsten Rudolf Willi Dehner sold 744 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $140.71, for a total transaction of $104,688.24. Following the sale, the senior vice president now owns 26,867 shares of the company’s stock, valued at $3,780,455.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert B. Crain sold 13,000 shares of AGCO stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $132.67, for a total value of $1,724,710.00. Following the completion of the sale, the senior vice president now directly owns 40,167 shares in the company, valued at approximately $5,328,955.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,142 shares of company stock worth $3,671,940. Insiders own 17.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AGCO shares. Wells Fargo & Company upped their target price on AGCO from $165.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. StockNews.com upgraded AGCO from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 8th. Morgan Stanley increased their price objective on AGCO from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. Citigroup increased their price objective on AGCO to $150.00 in a research note on Wednesday, December 14th. Finally, Credit Suisse Group increased their price objective on AGCO from $143.00 to $174.00 and gave the stock an “outperform” rating in a research note on Thursday, December 22nd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AGCO presently has an average rating of “Moderate Buy” and an average price target of $154.40.

AGCO Price Performance

AGCO stock opened at $129.83 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.40 and a debt-to-equity ratio of 0.33. AGCO Co. has a 12-month low of $88.55 and a 12-month high of $150.28. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.91 and a beta of 1.36. The business’s 50-day simple moving average is $137.98 and its 200 day simple moving average is $125.23.

AGCO (NYSE:AGCO – Get Rating) last issued its earnings results on Tuesday, February 7th. The industrial products company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.59. AGCO had a return on equity of 25.75% and a net margin of 7.03%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.76 billion. As a group, research analysts anticipate that AGCO Co. will post 13.53 earnings per share for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, February 14th. AGCO’s dividend payout ratio (DPR) is currently 8.09%.

AGCO Company Profile

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AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America, South America, Europe and Middle East, and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.