Advisors Asset Management Inc. lowered its stake in AGCO Co. (NYSE:AGCO - Free Report) by 15.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,966 shares of the industrial products company's stock after selling 14,918 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.11% of AGCO worth $8,119,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in AGCO during the 1st quarter valued at about $30,000. Blue Trust Inc. lifted its holdings in shares of AGCO by 102.4% during the second 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 last quarter. Venturi Wealth Management LLC lifted its holdings in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after buying an additional 210 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock worth $40,000 after buying an additional 167 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 78.80% of the company's stock.
AGCO Stock Performance
Shares of AGCO traded up $4.52 during mid-day trading on Thursday, hitting $96.50. The stock had a trading volume of 179,591 shares, compared to its average volume of 780,797. The firm has a market cap of $7.20 billion, a P/E ratio of 40.72, a PEG ratio of 0.52 and a beta of 1.25. The business has a fifty day moving average price of $96.11 and a 200-day moving average price of $97.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26.
AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the firm posted $3.97 earnings per share. The business's revenue for the quarter was down 24.8% compared to the same quarter last year. On average, equities research analysts expect that AGCO Co. will post 7.32 EPS for the current year.
AGCO Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, November 15th. AGCO's payout ratio is 51.33%.
Wall Street Analyst Weigh In
A number of research firms have commented on AGCO. JPMorgan Chase & Co. reduced their price objective on AGCO from $130.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Truist Financial raised their price target on AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They set a "market perform" rating and a $96.00 target price for the company. StockNews.com lowered AGCO from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. One 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $114.40.
Read Our Latest Stock Analysis on AGCO
About AGCO
(
Free Report)
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.
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