Principal Financial Group Inc. Increases Holdings in AGCO Co. (NYSE:AGCO)

Principal Financial Group Inc. increased its position in AGCO Co. (NYSE:AGCO) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 711,687 shares of the industrial products company’s stock after acquiring an additional 27,438 shares during the quarter. Principal Financial Group Inc.’s holdings in AGCO were worth $66,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after buying an additional 538,955 shares during the period. Barclays PLC grew its holdings in AGCO by 386.8% during the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock worth $24,389,000 after acquiring an additional 198,014 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AGCO by 67.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,175 shares of the industrial products company’s stock worth $44,739,000 after acquiring an additional 183,688 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in AGCO during the 3rd quarter valued at about $13,242,000. Finally, State Street Corp raised its holdings in shares of AGCO by 4.3% in the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock valued at $193,661,000 after purchasing an additional 80,846 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Stock Up 1.4 %

Shares of AGCO stock opened at $102.97 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $125.76. The firm has a market capitalization of $7.69 billion, a PE ratio of -18.10, a P/E/G ratio of 1.78 and a beta of 1.25. The stock’s 50-day simple moving average is $97.64 and its 200-day simple moving average is $95.57.

AGCO (NYSE:AGCO) last issued its quarterly earnings results 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%. Equities analysts expect that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. AGCO’s dividend payout ratio is presently -20.39%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Truist Financial upped their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Oppenheimer lifted their target price on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $107.20.

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.