Zions Bancorporation N.A. Acquires 1,531 Shares of AGCO Co. (NYSE:AGCO)

Zions Bancorporation N.A. boosted its position in AGCO Co. (NYSE:AGCO) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,729 shares of the industrial products company’s stock after purchasing an additional 1,531 shares during the quarter. Zions Bancorporation N.A.’s holdings in AGCO were worth $952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AGCO. SG Americas Securities LLC raised its position in shares of AGCO by 252.0% during the 1st quarter. SG Americas Securities LLC now owns 8,317 shares of the industrial products company’s stock valued at $1,023,000 after purchasing an additional 5,954 shares during the period. Sei Investments Co. lifted its position in shares of AGCO by 28.6% during the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after purchasing an additional 14,201 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of AGCO by 8.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,305 shares of the industrial products company’s stock valued at $2,809,000 after acquiring an additional 1,755 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after buying an additional 784,617 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of AGCO by 575.9% in the 1st quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock worth $5,125,000 after acquiring an additional 35,500 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Oppenheimer cut their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group decreased their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Citigroup upped their target price on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.40.

AGCO Trading Up 3.3 %

Shares of NYSE:AGCO opened at $92.37 on Friday. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a market cap of $6.89 billion, a P/E ratio of 40.87, a P/E/G ratio of 0.51 and a beta of 1.25. The stock’s 50-day moving average is $95.75 and its 200-day moving average is $98.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned $3.97 EPS. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts predict that AGCO Co. will post 7.32 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.26%. AGCO’s dividend payout ratio is currently 51.33%.

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.