Gallacher Capital Management LLC Purchases Shares of 3,368 AGCO Co. (NYSE:AGCO)

Gallacher Capital Management LLC acquired a new position in shares of AGCO Co. (NYSE:AGCO) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,368 shares of the industrial products company’s stock, valued at approximately $409,000.

Several other large investors have also modified their holdings of the stock. Pacer Advisors Inc. boosted its position 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 buying an additional 713,142 shares during the period. Victory Capital Management Inc. increased its holdings in shares of AGCO by 24.7% in the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock valued at $359,852,000 after purchasing an additional 601,877 shares during the period. Royal London Asset Management Ltd. purchased a new stake in shares of AGCO in the third quarter worth approximately $38,690,000. AQR Capital Management LLC boosted its holdings 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 purchasing an additional 142,701 shares during the period. Finally, Invesco Ltd. grew its position in AGCO by 53.1% during the third quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock valued at $44,333,000 after purchasing an additional 130,051 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Price Performance

Shares of AGCO stock traded up $3.66 during trading hours on Monday, reaching $115.47. 943,258 shares of the company were exchanged, compared to its average volume of 710,840. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.70 and a beta of 1.32. 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 stock’s fifty day moving average is $116.61 and its two-hundred day moving average is $116.89.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.51 earnings per share. Sell-side analysts forecast that AGCO Co. will post 12 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on AGCO shares. Oppenheimer reduced 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. JPMorgan Chase & Co. reduced their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com lowered shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial reduced their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday. One research 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $141.83.

AGCO Profile

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.