UBS Group AG Has $15.76 Million Stake in AGCO Co. (NYSE:AGCO)
UBS Group AG boosted its holdings in shares of AGCO Co. (NYSE:AGCO) by 22.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,054 shares of the industrial products company’s stock after purchasing an additional 36,906 shares during the period. UBS Group AG owned 0.27% of AGCO worth $15,763,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in AGCO by 68.0% during the 3rd quarter. Millennium Management LLC now owns 47,221 shares of the industrial products company’s stock valued at $3,574,000 after purchasing an additional 19,107 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of AGCO by 471.6% in the 4th quarter. SG Americas Securities LLC now owns 30,178 shares of the industrial products company’s stock valued at $2,331,000 after buying an additional 24,898 shares during the period. James Investment Research Inc. increased its stake in shares of AGCO by 7.8% in the 4th quarter. James Investment Research Inc. now owns 20,000 shares of the industrial products company’s stock valued at $1,545,000 after buying an additional 1,450 shares during the period. Voya Investment Management LLC increased its stake in shares of AGCO by 3.1% in the 3rd quarter. Voya Investment Management LLC now owns 40,668 shares of the industrial products company’s stock valued at $3,079,000 after buying an additional 1,209 shares during the period. Finally, Amalgamated Bank increased its stake in shares of AGCO by 10.8% in the 4th quarter. Amalgamated Bank now owns 14,561 shares of the industrial products company’s stock valued at $1,125,000 after buying an additional 1,418 shares during the period. 81.45% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on AGCO. Goldman Sachs Group lowered their target price on AGCO from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. ValuEngine raised AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. UBS Group decreased their price objective on AGCO from $79.00 to $72.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their price objective on AGCO from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 price objective on shares of AGCO in a research note on Monday, January 20th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $80.86.
AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.61). The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.67 billion. AGCO had a net margin of 1.38% and a return on equity of 11.31%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. On average, equities analysts forecast that AGCO Co. will post 5.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 14th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.64 annualized dividend and a yield of 1.35%. AGCO’s payout ratio is presently 14.41%.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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