Deseret Mutual Benefit Administrators Has $54,000 Holdings in AGCO Co. (NYSE:AGCO)

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Deseret Mutual Benefit Administrators cut its stake in AGCO Co. (NYSE:AGCO) by 32.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 443 shares of the industrial products company’s stock after selling 211 shares during the period. Deseret Mutual Benefit Administrators’ holdings in AGCO were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AGCO. Advisor Group Holdings Inc. raised its holdings in shares of AGCO by 238.3% in the 2nd quarter. Advisor Group Holdings Inc. now owns 21,930 shares of the industrial products company’s stock worth $2,858,000 after buying an additional 15,447 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of AGCO by 346.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 57,163 shares of the industrial products company’s stock worth $7,453,000 after buying an additional 44,362 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in AGCO during the 2nd quarter valued at $328,000. Teacher Retirement System of Texas increased its holdings in AGCO by 17.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,397 shares of the industrial products company’s stock valued at $1,095,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in AGCO during the 2nd quarter valued at $820,000. 76.32% of the stock is owned by institutional investors and hedge funds.

NYSE:AGCO opened at $116.02 on Friday. AGCO Co. has a 12-month low of $100.98 and a 12-month high of $158.62. The company has a quick ratio of 0.58, a current ratio of 1.35 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $8.68 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.67 and a beta of 1.33. The stock’s fifty day simple moving average is $119.46 and its 200-day simple moving average is $126.19.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, October 28th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.56. AGCO had a return on equity of 21.45% and a net margin of 7.01%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the company earned $2.09 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that AGCO Co. will post 9.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Monday, November 15th were given a $0.20 dividend. The ex-dividend date was Friday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. AGCO’s dividend payout ratio is currently 8.08%.

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on AGCO from $153.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, December 9th. Sanford C. Bernstein cut AGCO from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $177.00 to $127.00 in a report on Wednesday, December 22nd. Citigroup dropped their price target on AGCO from $155.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, November 10th. Barclays dropped their price target on AGCO from $140.00 to $123.00 and set an “equal weight” rating for the company in a report on Friday, December 17th. Finally, OTR Global cut AGCO to a “positive” rating in a report on Tuesday, October 26th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AGCO currently has an average rating of “Buy” and a consensus target price of $147.64.

About AGCO

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

Further Reading: Producer Price Index (PPI)

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