Bank of Montreal Can Has $35.99 Million Stock Holdings in AGCO Co. (NYSE:AGCO)

Bank of Montreal Can lowered its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 63.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 366,091 shares of the industrial products company's stock after selling 649,346 shares during the period. Bank of Montreal Can owned approximately 0.49% of AGCO worth $35,990,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Great Valley Advisor Group Inc. raised its position in AGCO by 9.0% in the third quarter. Great Valley Advisor Group Inc. now owns 33,820 shares of the industrial products company's stock worth $3,310,000 after purchasing an additional 2,781 shares in the last quarter. Raymond James Trust N.A. raised its position in AGCO by 48.0% in the third quarter. Raymond James Trust N.A. now owns 8,519 shares of the industrial products company's stock worth $834,000 after purchasing an additional 2,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in AGCO by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 454,138 shares of the industrial products company's stock worth $44,442,000 after purchasing an additional 13,737 shares in the last quarter. Pacer Advisors Inc. raised its position in AGCO by 34.3% in the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company's stock worth $206,525,000 after purchasing an additional 538,955 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in AGCO by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company's stock worth $181,775,000 after buying an additional 66,303 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Trading Down 0.2 %

AGCO stock traded down $0.25 during midday trading on Friday, reaching $101.21. The company's stock had a trading volume of 463,236 shares, compared to its average volume of 786,970. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The stock has a market cap of $7.55 billion, a PE ratio of 45.08, a price-to-earnings-growth ratio of 0.58 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The business's 50-day simple moving average is $97.08 and its 200-day simple moving average is $97.35.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business posted $3.97 earnings per share. AGCO's revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that AGCO Co. will post 7.34 EPS for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.15%. AGCO's dividend payout ratio (DPR) is presently 51.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AGCO. Truist Financial upped their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Oppenheimer decreased their price objective on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut shares of AGCO from a "hold" rating to a "sell" rating in a research note on Thursday. The Goldman Sachs Group decreased their price objective on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. 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 price objective on the stock. One 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.com, the stock presently has a consensus 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.