Tower Research Capital LLC TRC Buys 1,880 Shares of AGCO Co. (NYSE:AGCO)

Tower Research Capital LLC TRC lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 45.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,023 shares of the industrial products company’s stock after acquiring an additional 1,880 shares during the quarter. Tower Research Capital LLC TRC’s holdings in AGCO were worth $563,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AGCO. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in AGCO during the 4th quarter valued at approximately $3,144,000. Gateway Investment Advisers LLC bought a new stake in AGCO during the 4th quarter valued at approximately $311,000. Olstein Capital Management L.P. boosted its stake in AGCO by 20.8% during the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock valued at $1,355,000 after purchasing an additional 2,500 shares during the period. Principal Financial Group Inc. boosted its stake in AGCO by 28.2% during the 3rd 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 during the period. Finally, Alberta Investment Management Corp boosted its stake in AGCO by 98.5% during the 4th quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company’s stock valued at $4,582,000 after purchasing an additional 24,320 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO stock opened at $85.33 on Tuesday. The stock has a 50-day simple moving average of $90.62 and a 200 day simple moving average of $95.15. 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 12-month low of $73.79 and a 12-month high of $119.88. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -15.00, a P/E/G ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, research analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.36%. AGCO’s payout ratio is -20.39%.

Analyst Ratings Changes

Several brokerages recently weighed in on AGCO. Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Morgan Stanley cut AGCO from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $94.00 to $75.00 in a report on Wednesday, April 16th. Citigroup raised AGCO from a “neutral” rating to a “buy” rating and cut their price target for the company from $98.00 to $90.00 in a report on Tuesday, April 8th. Truist Financial cut their price target on AGCO from $125.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Baird R W cut AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.80.

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.