Caisse DE Depot ET Placement DU Quebec Makes New $2.26 Million Investment in AGCO Co. (NYSE:AGCO)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in AGCO Co. (NYSE:AGCO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 23,130 shares of the industrial products company’s stock, valued at approximately $2,264,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in AGCO in the third quarter worth about $29,000. LRI Investments LLC raised its holdings in shares of AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Blue Trust Inc. lifted its position in shares of AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after buying an additional 174 shares during the period. Venturi Wealth Management LLC boosted its stake in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares during the period. 78.80% of the stock is owned by institutional investors.

AGCO Stock Up 0.3 %

NYSE AGCO opened at $101.52 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The stock has a market capitalization of $7.58 billion, a P/E ratio of 44.92, a price-to-earnings-growth ratio of 0.57 and a beta of 1.25. The stock has a fifty day moving average of $97.35 and a 200-day moving average of $96.88.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.97 earnings per share. On average, equities research analysts forecast that AGCO Co. will post 7.34 EPS for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio is presently 51.33%.

Analysts Set New Price Targets

AGCO has been the topic of several analyst reports. BMO Capital Markets began coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price on the stock. Citigroup upped their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer dropped their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Finally, The Goldman Sachs Group dropped their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $114.40.

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.