AGCO Corp said on January 20, 2023 that its board of directors declared a regular quarterly dividend of $0.24 per share ($0.96 annualized). Shareholders of record as of February 14, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.24 per share.

At the most recent share price of $138.76 / share, the stock’s dividend yield was 0.69%. Additionally, the company’s dividend payout ratio is 0.48, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 7.53%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 11.59% Upside

As of January 30, 2023, the average one-year price target for AGCO is $154.84. The forecasts range from a low of $105.04 to a high of $194.25. The average price target represents an increase of 11.59% from its latest reported closing price of $138.76.

The projected annual revenue for AGCO is $13,257MM, an increase of 11.33%. The projected annual EPS is $13.01, an increase of 14.35%.

Fund Sentiment

There are 979 funds or institutions reporting positions in AGCO. This is a decrease of 14 owner(s) or 1.41%.

Average portfolio weight of all funds dedicated to US:AGCO is 0.2935%, an increase of 22.4415%. Total shares owned by institutions increased in the last three months by 3.37% to 67,588K shares.

What are large shareholders doing?

Lsv Asset Management holds 3,309,412 shares representing 4.44% ownership of the company. In it’s prior filing, the firm reported owning 3,067,955 shares, representing an increase of 7.30%. The firm increased its portfolio allocation in AGCO by 14.20% over the last quarter.

Victory Capital Management holds 3,241,701 shares representing 4.35% ownership of the company. In it’s prior filing, the firm reported owning 2,730,212 shares, representing an increase of 15.78%. The firm increased its portfolio allocation in AGCO by 18.51% over the last quarter.

VETAX – Victory Sycamore Established Value Fund holds 2,185,200 shares representing 2.93% ownership of the company. In it’s prior filing, the firm reported owning 1,860,000 shares, representing an increase of 14.88%. The firm increased its portfolio allocation in AGCO by 18.13% over the last quarter.

Nordea Investment Management Ab holds 2,016,193 shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 2,065,285 shares, representing a decrease of 2.43%. The firm increased its portfolio allocation in AGCO by 5.90% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 1,808,295 shares representing 2.42% ownership of the company. In it’s prior filing, the firm reported owning 1,757,078 shares, representing an increase of 2.83%. The firm increased its portfolio allocation in AGCO by 0.78% over the last quarter.

AGCO Background Information
(This description is provided by the company.)

GCO is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® smart farming solutions. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $9.0 billion in 2019.

This article originally appeared on Fintel

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