CenterBook Partners LP Lowers Stock Holdings in AGCO Co. (NYSE:AGCO)

CenterBook Partners LP cut its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 45.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,210 shares of the industrial products company's stock after selling 25,082 shares during the period. CenterBook Partners LP's holdings in AGCO were worth $2,824,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Invesco Ltd. grew its position in AGCO by 68.7% during the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after buying an additional 961,081 shares in the last quarter. Norges Bank bought a new position in shares of AGCO in the fourth quarter worth $57,321,000. Edge Capital Group LLC bought a new stake in AGCO during the fourth quarter worth about $39,269,000. JPMorgan Chase & Co. grew its stake in AGCO by 83.6% during the fourth quarter. JPMorgan Chase & Co. now owns 630,098 shares of the industrial products company's stock worth $58,902,000 after buying an additional 286,958 shares in the last quarter. Finally, Barclays PLC increased its holdings 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 during the period. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Trading Down 1.4 %

AGCO stock traded down $1.21 on Tuesday, reaching $84.63. The company's stock had a trading volume of 227,513 shares, compared to its average volume of 883,790. The firm has a market cap of $6.31 billion, a PE ratio of -14.87, a PEG ratio of 1.80 and a beta of 1.16. The business has a fifty day simple moving average of $93.43 and a two-hundred day simple moving average of $96.10. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $121.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34.

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AGCO (NYSE:AGCO - Get Free Report) last announced its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, research analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, February 14th. AGCO's payout ratio is presently -20.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Baird R W lowered shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. StockNews.com upgraded AGCO from a "sell" rating to a "hold" rating in a report on Friday. Oppenheimer boosted their target price on shares of AGCO from $108.00 to $109.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. UBS Group reduced their price objective on shares of AGCO from $100.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Truist Financial cut their price target on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $100.90.

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.