New York State Teachers Retirement System Sells 16,612 Shares of AGCO Co. (NYSE:AGCO)

New York State Teachers Retirement System trimmed its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 22.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,857 shares of the industrial products company's stock after selling 16,612 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of AGCO worth $5,760,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. lifted its position in AGCO by 103.5% during the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company's stock valued at $153,814,000 after purchasing an additional 799,429 shares during the period. Vanguard Group Inc. lifted its holdings in AGCO by 11.6% in the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company's stock valued at $930,660,000 after buying an additional 784,617 shares during the period. AQR Capital Management LLC boosted its stake in AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company's stock valued at $171,090,000 after acquiring an additional 605,509 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in AGCO by 28.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company's stock worth $175,323,000 after acquiring an additional 391,591 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of AGCO by 17.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company's stock valued at $221,187,000 after acquiring an additional 335,092 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on AGCO shares. JPMorgan Chase & Co. decreased 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. StockNews.com cut shares of AGCO from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. BMO Capital Markets began coverage on AGCO in a research note on Friday, August 9th. They set a "market perform" rating and a $96.00 price objective on the stock. UBS Group decreased their target price on AGCO from $107.00 to $104.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group dropped their price target on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $114.40.

AGCO Stock Performance

Shares of AGCO stock traded up $4.29 during midday trading on Wednesday, hitting $94.52. 2,083,999 shares of the company were exchanged, compared to its average volume of 773,202. The firm has a market capitalization of $7.06 billion, a P/E ratio of 16.73, a PEG ratio of 0.94 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 Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The firm's 50 day moving average price is $95.52 and its two-hundred day moving average price is $99.57.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company earned $3.97 earnings per share. The business's quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AGCO Co. will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. AGCO's payout ratio is 20.71%.

About AGCO

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.