AEGON ASSET MANAGEMENT UK Plc Cuts Stake in AGCO Co. (NYSE:AGCO)

AEGON ASSET MANAGEMENT UK Plc decreased its position in AGCO Co. (NYSE:AGCO - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,223 shares of the industrial products company's stock after selling 29,409 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.25% of AGCO worth $18,644,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Forum Financial Management LP raised its position in AGCO by 5.5% in the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company's stock worth $206,000 after acquiring an additional 109 shares during the period. Capital Insight Partners LLC lifted its stake in AGCO by 2.6% in the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company's stock valued at $431,000 after purchasing an additional 110 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in 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. William Blair Investment Management LLC increased its position in AGCO by 3.9% in the first quarter. William Blair Investment Management LLC now owns 3,766 shares of the industrial products company's stock worth $463,000 after buying an additional 143 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of AGCO by 2.6% in the second quarter. SummerHaven Investment Management LLC now owns 5,604 shares of the industrial products company's stock valued at $549,000 after buying an additional 143 shares during the period. Institutional investors own 78.80% of the company's stock.

AGCO Price Performance

AGCO stock traded down $2.26 during midday trading on Friday, hitting $91.86. 1,041,947 shares of the company's stock were exchanged, compared to its average volume of 775,661. The stock has a 50-day moving average price of $95.69 and a two-hundred day moving average price of $99.18. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a market cap of $6.86 billion, a P/E ratio of 16.40, a PEG ratio of 0.93 and a beta of 1.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52.

AGCO (NYSE:AGCO - Get Free Report) last posted 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). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company posted $3.97 earnings per share. The firm's revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities research analysts forecast that AGCO Co. will post 7.87 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's dividend payout ratio is currently 20.71%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AGCO. The Goldman Sachs Group decreased their price objective on AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Wednesday. UBS Group lowered their price target on shares of AGCO from $107.00 to $104.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of AGCO from $130.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Truist Financial boosted their target price on shares of AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Oppenheimer dropped their target price on AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $114.40.

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.