First Horizon Advisors Inc. Has $64,000 Stock Holdings in AGCO Co. (NYSE:AGCO)

First Horizon Advisors Inc. grew its position in shares of AGCO Co. (NYSE:AGCO) by 30.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 688 shares of the industrial products company’s stock after purchasing an additional 162 shares during the period. First Horizon Advisors Inc.’s holdings in AGCO were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AGCO. Alberta Investment Management Corp lifted its stake in shares of AGCO by 98.5% in the fourth quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company’s stock worth $4,582,000 after acquiring an additional 24,320 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of AGCO by 114.7% in the fourth quarter. Venturi Wealth Management LLC now owns 790 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 422 shares during the period. CIBC Asset Management Inc lifted its stake in shares of AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 110 shares during the period. Principal Financial Group Inc. lifted its stake in shares of AGCO by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock worth $66,536,000 after acquiring an additional 27,438 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of AGCO by 2.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,877 shares of the industrial products company’s stock worth $2,139,000 after acquiring an additional 567 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on AGCO. JPMorgan Chase & Co. lifted their price objective on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Truist Financial boosted their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley began coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. The Goldman Sachs Group dropped their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $107.20.

AGCO Trading Up 0.4 %

NYSE AGCO opened at $97.31 on Friday. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -17.10, a P/E/G ratio of 1.80 and a beta of 1.25. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76. The business has a 50 day moving average price of $97.85 and a 200-day moving average price of $95.95. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate 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, equities 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 will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. AGCO’s dividend payout ratio is -20.39%.

AGCO 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.