ExodusPoint Capital Management LP Buys New Shares in AGCO Co. (NYSE:AGCO)

ExodusPoint Capital Management LP purchased a new stake in shares of AGCO Co. (NYSE:AGCO) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 76,150 shares of the industrial products company’s stock, valued at approximately $7,119,000.

Other hedge funds also recently modified their holdings of the company. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of AGCO in the fourth quarter valued at $3,144,000. Gateway Investment Advisers LLC acquired a new stake in shares of AGCO during the 4th quarter valued at about $311,000. Olstein Capital Management L.P. raised its position in AGCO by 20.8% in the fourth quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock worth $1,355,000 after purchasing an additional 2,500 shares in the last quarter. M&T Bank Corp lifted its stake in AGCO by 133.0% during the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after purchasing an additional 48,198 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in AGCO by 28.2% during the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock valued at $66,959,000 after purchasing an additional 150,656 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Trading Down 3.3 %

AGCO stock opened at $79.45 on Friday. 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 Co. has a twelve month low of $73.79 and a twelve month high of $125.76. The company has a market cap of $5.93 billion, a P/E ratio of -13.96, a PEG ratio of 1.80 and a beta of 1.16. The business has a fifty day moving average of $96.97 and a 200-day moving average of $96.85.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, equities research analysts expect that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, February 14th. AGCO’s dividend payout ratio (DPR) is currently -20.39%.

Analysts Set New Price Targets

Several equities analysts recently commented on AGCO shares. JPMorgan Chase & Co. raised their target price on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Truist Financial upped their target price on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Citigroup lifted their target price on shares of AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, March 17th. Finally, Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AGCO presently has a consensus rating of “Hold” and a consensus price target of $104.60.

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.