Gallacher Capital Management LLC Acquires Shares of 3,368 AGCO Co. (NYSE:AGCO)

Gallacher Capital Management LLC purchased a new position in AGCO Co. (NYSE:AGCO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,368 shares of the industrial products company’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of AGCO by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after purchasing an additional 32,583 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of AGCO by 0.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock worth $371,586,000 after acquiring an additional 18,209 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of AGCO by 16.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock worth $121,678,000 after buying an additional 142,701 shares in the last quarter. Boston Partners increased its holdings in shares of AGCO by 3.5% in the 3rd quarter. Boston Partners now owns 731,554 shares of the industrial products company’s stock worth $86,527,000 after buying an additional 24,815 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in AGCO by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock worth $87,794,000 after acquiring an additional 22,687 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO stock traded up $3.66 during midday trading on Monday, hitting $115.47. 943,258 shares of the company were exchanged, compared to its average volume of 710,840. The firm has a market capitalization of $8.62 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The business has a fifty day simple moving average of $116.61 and a two-hundred day simple moving average of $116.89. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. AGCO’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.51 EPS. On average, sell-side analysts forecast that AGCO Co. will post 12 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, May 14th. AGCO’s payout ratio is presently 7.85%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AGCO shares. Oppenheimer dropped their target price on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial reduced their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. Finally, StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.83.

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.