Amalgamated Bank Has $2.86 Million Stock Position in AGCO Co. (NYSE:AGCO)

Amalgamated Bank lowered its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 24.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,195 shares of the industrial products company's stock after selling 9,672 shares during the period. Amalgamated Bank's holdings in AGCO were worth $2,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in AGCO by 103.5% in the second quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company's stock valued at $153,814,000 after acquiring an additional 799,429 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 784,617 shares during the last quarter. AQR Capital Management LLC lifted 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 lifted its stake in AGCO by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company's stock valued at $175,323,000 after acquiring an additional 391,591 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in AGCO by 17.4% in the second 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. Institutional investors own 78.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group cut their price target on shares of AGCO from $107.00 to $104.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on shares of AGCO from $130.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group cut their target price on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Robert W. Baird cut their target price on shares of AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. Finally, BMO Capital Markets started coverage on shares of AGCO in a research note on Friday, August 9th. They set a "market perform" rating and a $96.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, AGCO presently has a consensus rating of "Hold" and an average price target of $114.40.

AGCO Stock Performance

AGCO stock traded down $0.09 during midday trading on Monday, hitting $91.77. The company's stock had a trading volume of 583,984 shares, compared to its average volume of 847,274. 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 1-year low of $84.35 and a 1-year high of $130.26. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 0.95 and a beta of 1.25. The company has a 50-day moving average price of $95.70 and a two-hundred day moving average price of $98.86.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. AGCO's quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 earnings per share. As a group, sell-side analysts predict that AGCO Co. will post 7.3 earnings per share for the current year.

AGCO Announces Dividend

The company 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 $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's payout ratio is presently 51.33%.

AGCO Company 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.