Mitsubishi UFJ Trust & Banking Corp Purchases 19,721 Shares of AGCO Corporation $AGCO

Mitsubishi UFJ Trust & Banking Corp lifted its position in AGCO Corporation (NYSE:AGCO) by 89.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,713 shares of the industrial products company’s stock after buying an additional 19,721 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in AGCO were worth $4,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in AGCO by 78.7% in the second quarter. JPMorgan Chase & Co. now owns 1,955,740 shares of the industrial products company’s stock valued at $201,755,000 after acquiring an additional 861,377 shares in the last quarter. Norges Bank purchased a new stake in shares of AGCO during the 2nd quarter valued at $78,651,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of AGCO by 32.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,840,125 shares of the industrial products company’s stock valued at $304,092,000 after purchasing an additional 700,558 shares during the last quarter. Ninety One UK Ltd acquired a new stake in shares of AGCO in the 3rd quarter worth $69,996,000. Finally, Frontier Capital Management Co. LLC purchased a new position in AGCO during the 2nd quarter worth $38,534,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO opened at $114.35 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $121.16. The firm has a 50 day moving average of $108.30 and a two-hundred day moving average of $108.68. The firm has a market capitalization of $8.53 billion, a PE ratio of 22.73, a P/E/G ratio of 10.21 and a beta of 1.17.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. AGCO had a net margin of 3.73% and a return on equity of 9.36%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, analysts anticipate that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 13th. AGCO’s dividend payout ratio (DPR) is currently 23.06%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial set a $134.00 price target on AGCO in a research note on Wednesday, January 14th. Oppenheimer increased their price objective on shares of AGCO from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Citigroup boosted their target price on shares of AGCO from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Barclays cut shares of AGCO from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $116.00 to $93.00 in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AGCO in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, AGCO has an average rating of “Hold” and an average price target of $111.80.

Insider Buying and Selling at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $104.28, for a total transaction of $26,070.00. Following the completion of the transaction, the senior vice president owned 17,130 shares in the company, valued at approximately $1,786,316.40. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.60% of the company’s stock.

AGCO Profile

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.