Ethos Financial Group LLC Makes New Investment in AGCO Co. (NYSE:AGCO)

Ethos Financial Group LLC acquired a new stake in AGCO Co. (NYSE:AGCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,773 shares of the industrial products company’s stock, valued at approximately $337,000.

Several other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of AGCO by 7,297.1% in the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock worth $87,769,000 after acquiring an additional 713,142 shares in the last quarter. Victory Capital Management Inc. increased its holdings in AGCO by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after purchasing an additional 601,877 shares during the period. Royal London Asset Management Ltd. purchased a new position in shares of AGCO in the 3rd quarter valued at about $38,690,000. AQR Capital Management LLC grew its position in shares of AGCO by 16.1% during the third 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. Finally, Invesco Ltd. increased its stake in shares of AGCO by 53.1% during the third quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after buying an additional 130,051 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

NYSE AGCO traded up $2.38 on Thursday, hitting $116.31. 474,471 shares of the company’s stock were exchanged, compared to its average volume of 719,630. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. The firm’s 50-day moving average price is $117.18 and its two-hundred day moving average price is $116.89. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 0.70 and a beta of 1.32. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the business posted $3.51 earnings per share. AGCO’s revenue was down 12.1% compared to the same quarter last year. On average, research analysts expect that AGCO Co. will post 12 EPS for the current year.

AGCO Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AGCO shares. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. cut their target price on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Oppenheimer lowered their price target on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, Truist Financial cut their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.

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.