Freestone Capital Holdings LLC Grows Position in AGCO Co. (NYSE:AGCO)

Freestone Capital Holdings LLC increased its position in shares of AGCO Co. (NYSE:AGCO) by 16.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,026 shares of the industrial products company’s stock after buying an additional 1,542 shares during the quarter. Freestone Capital Holdings LLC’s holdings in AGCO were worth $1,356,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MQS Management LLC purchased a new position in shares of AGCO in the 1st quarter valued at approximately $577,000. Bessemer Group Inc. raised its holdings in AGCO by 2,238.9% during the first quarter. Bessemer Group Inc. now owns 421 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 403 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in AGCO by 28.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 41,943 shares of the industrial products company’s stock worth $5,160,000 after purchasing an additional 9,314 shares during the last quarter. Acadian Asset Management LLC increased its position in AGCO by 575.9% during the first quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock worth $5,125,000 after buying an additional 35,500 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after buying an additional 784,617 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AGCO. Barclays dropped their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. Oppenheimer lowered their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research report on Monday. Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered their price objective on AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Finally, Citigroup initiated coverage on AGCO in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price objective for the company. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AGCO currently has a consensus rating of “Hold” and an average target price of $126.63.

AGCO Stock Up 2.0 %

Shares of NYSE AGCO traded up $2.05 on Friday, hitting $103.89. The company had a trading volume of 257,547 shares, compared to its average volume of 745,891. AGCO Co. has a 12-month low of $92.75 and a 12-month high of $136.42. The business has a 50 day moving average of $101.71 and a two-hundred day moving average of $111.54. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $7.75 billion, a P/E ratio of 6.99, a PEG ratio of 0.66 and a beta of 1.27.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business posted $3.51 earnings per share. AGCO’s revenue for the quarter was down 12.1% on a year-over-year basis. As a group, equities research analysts forecast that AGCO Co. will post 11.08 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is 7.85%.

AGCO Company 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.