EP Wealth Advisors LLC Makes New Investment in AGCO Co. (NYSE:AGCO)

Posted by on Sep 19th, 2023

EP Wealth Advisors LLC purchased a new position in shares of AGCO Co. (NYSE:AGCO – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,716 shares of the industrial products company’s stock, valued at approximately $232,000.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of AGCO by 21.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the industrial products company’s stock valued at $433,000 after buying an additional 522 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of AGCO in the first quarter valued at $306,000. Acadian Asset Management LLC lifted its holdings in shares of AGCO by 118.1% in the first quarter. Acadian Asset Management LLC now owns 1,758 shares of the industrial products company’s stock valued at $256,000 after buying an additional 952 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of AGCO by 10.4% in the first quarter. Great West Life Assurance Co. Can now owns 36,347 shares of the industrial products company’s stock valued at $5,469,000 after buying an additional 3,425 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in shares of AGCO by 3.6% in the first quarter. Raymond James Trust N.A. now owns 3,743 shares of the industrial products company’s stock valued at $547,000 after buying an additional 129 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

AGCO Stock Up 0.1 %

NYSE:AGCO opened at $122.95 on Tuesday. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.86 and a beta of 1.38. AGCO Co. has a 1-year low of $93.53 and a 1-year high of $145.53. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average price is $128.40 and its 200 day moving average price is $126.74.

AGCO (NYSE:AGCO – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $4.29 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.57. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.69 billion. AGCO had a return on equity of 29.56% and a net margin of 7.84%. AGCO’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 earnings per share. On average, sell-side analysts forecast that AGCO Co. will post 15.31 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, August 14th. AGCO’s payout ratio is currently 7.82%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AGCO. Oppenheimer cut their price objective on AGCO from $158.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, July 28th. Citigroup upped their target price on AGCO from $150.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Finally, StockNews.com started coverage on AGCO in a report on Thursday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.64.

Get Our Latest Analysis on AGCO

About AGCO

(Free Report)

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.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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