AGCO Co. (NYSE:AGCO) Holdings Reduced by AIA Group Ltd

AIA Group Ltd lessened its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 46.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,019 shares of the industrial products company's stock after selling 7,931 shares during the quarter. AIA Group Ltd's holdings in AGCO were worth $883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC bought a new position in AGCO during the first quarter worth about $30,000. Blue Trust Inc. grew its holdings in AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock worth $34,000 after acquiring an additional 174 shares during the last quarter. First Horizon Advisors Inc. increased its stake 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 valued at $40,000 after purchasing an additional 167 shares in the last quarter. Farther Finance Advisors LLC grew its position in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after purchasing an additional 139 shares during the period. Finally, Bessemer Group Inc. raised its holdings in AGCO by 2,238.9% during the first quarter. Bessemer Group Inc. now owns 421 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 403 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Down 2.4 %

Shares of NYSE:AGCO traded down $2.26 during mid-day trading on Friday, hitting $91.86. 1,041,947 shares of the company traded hands, compared to its average volume of 775,661. The stock has a market cap of $6.86 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.93 and a beta of 1.25. The stock has a 50-day moving average price of $95.69 and a two-hundred day moving average price of $99.30. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share 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 company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $3.97 EPS. 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 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 issued 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 currently 20.71%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday. Citigroup lifted their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Robert W. Baird cut their price objective on AGCO from $139.00 to $129.00 and set an "outperform" rating on the stock in a report on Wednesday, July 31st. Truist Financial boosted their price target on AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Barclays lowered their target price on shares of AGCO from $145.00 to $110.00 and set an "equal weight" rating for the company in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $114.40.

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.