Legal & General Group Plc reduced its position in AGCO Co. (NYSE:AGCO - Free Report) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,757 shares of the industrial products company's stock after selling 11,624 shares during the quarter. Legal & General Group Plc owned approximately 0.18% of AGCO worth $12,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its stake in AGCO by 68.7% in the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock valued at $220,641,000 after acquiring an additional 961,081 shares during the period. Norges Bank bought a new stake in shares of AGCO in the fourth quarter valued at approximately $57,321,000. Edge Capital Group LLC purchased a new stake in shares of AGCO during the 4th quarter valued at approximately $39,269,000. JPMorgan Chase & Co. lifted its stake in shares of AGCO by 83.6% during the 4th quarter. JPMorgan Chase & Co. now owns 630,098 shares of the industrial products company's stock valued at $58,902,000 after buying an additional 286,958 shares in the last quarter. Finally, Barclays PLC grew its stake in AGCO by 386.8% in the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock valued at $24,389,000 after buying an additional 198,014 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on AGCO shares. UBS Group cut their price target on AGCO from $100.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Baird R W lowered AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Oppenheimer lowered their price target on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday. Truist Financial cut their price objective on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $98.00.
Get Our Latest Stock Analysis on AGCO
AGCO Stock Performance
AGCO stock traded up $1.75 during midday trading on Tuesday, hitting $81.66. The stock had a trading volume of 807,744 shares, compared to its average volume of 893,289. The company has a market capitalization of $6.09 billion, a PE ratio of -14.35, a P/E/G ratio of 1.80 and a beta of 1.16. AGCO Co. has a 52-week low of $73.79 and a 52-week high of $121.49. The firm's fifty day moving average is $91.53 and its two-hundred day moving average is $95.43. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.
AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, research analysts forecast that AGCO Co. will post 4.2 EPS for the current year.
AGCO Profile
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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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