AGCO Corporation (AGCO)

Meridian Wealth Management LLC Acquires New Shares in AGCO Co. (NYSE:AGCO)

Meridian Wealth Management LLC bought a new position in shares of AGCO Co. (NYSE:AGCO – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,739 shares of the industrial products company’s stock, valued at approximately $211,000. Other hedge funds have also made changes to their positions in the company. Lecap Asset Management Ltd. acquired a new stake in AGCO in the 4th quarter valued at about $1,082,000. Vontobel Holding Ltd. increased its stake in shares of AGCO by 6.5% during the 4th quarter. Vontobel Holding Ltd. now owns 106,351 shares of the industrial products company’s stock worth $12,912,000 after purchasing an additional 6,494 shares in the last quarter. Nordea Investment Management AB raised its position in shares of AGCO by 1.7% during the 4th quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after purchasing an additional 1,036 shares during the last quarter. Vanguard Group Inc. lifted its stake in AGCO by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock valued at $799,047,000 after buying an additional 32,583 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in AGCO by 53.1% during the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock valued at $44,333,000 after buying an additional 130,051 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock. AGCO Stock Down 1.8 % Shares of NYSE AGCO opened at $110.02 on Monday. 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 stock has a market capitalization of $8.21 billion, a PE ratio of 7.44, a P/E/G ratio of 0.68 and a beta of 1.32. The firm has a fifty day moving average of $117.66 and a 200-day moving average of $117.01. AGCO Co. has a 52-week low of $105.77 and a 52-week high of $140.46. AGCO (NYSE:AGCO – Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.51 earnings per share. On average, analysts anticipate that AGCO Co. will post 12.04 EPS for the current year. AGCO Cuts Dividend The firm also recently declared a dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a yield of 1%. AGCO’s payout ratio is 7.85%. Analyst Upgrades and Downgrades AGCO has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Truist Financial reduced their price target on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Oppenheimer lowered their price objective on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.83. Read Our Latest Stock Report on AGCO AGCO Company Profile (Free Report) 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.