Citigroup Inc. Has $5.73 Million Stake in AGCO Co. (NYSE:AGCO)

Citigroup Inc. cut its position in AGCO Co. (NYSE:AGCO - Free Report) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,557 shares of the industrial products company's stock after selling 12,992 shares during the quarter. Citigroup Inc. owned about 0.08% of AGCO worth $5,730,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Forum Financial Management LP grew its position in shares of AGCO by 5.5% in the 2nd quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 109 shares during the period. Capital Insight Partners LLC grew its holdings in AGCO by 2.6% during the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company's stock worth $431,000 after purchasing an additional 110 shares during the period. First Horizon Advisors Inc. increased its position in AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company's stock worth $51,000 after buying an additional 117 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in AGCO by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company's stock valued at $1,666,000 after buying an additional 126 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $41,000 after buying an additional 139 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

Shares of NYSE AGCO traded up $0.31 during midday trading on Monday, reaching $101.52. The company's stock had a trading volume of 883,919 shares, compared to its average volume of 787,388. The company has a market cap of $7.58 billion, a P/E ratio of 44.92, a P/E/G ratio of 0.57 and a beta of 1.25. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The business's 50 day moving average price is $97.35 and its two-hundred day moving average price is $96.88.

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 for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm earned $3.97 earnings per share. AGCO's revenue was down 24.8% on a year-over-year basis. On average, analysts forecast that AGCO Co. will post 7.34 EPS for the current fiscal year.

AGCO Dividend Announcement

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. This represents a $1.16 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, November 15th. AGCO's dividend payout ratio is currently 51.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AGCO. The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets started coverage on shares of AGCO in a report on Friday, August 9th. They issued a "market perform" rating and a $96.00 price objective on the stock. Truist Financial raised their target price 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. Citigroup increased their price target on shares of AGCO from $88.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Finally, Oppenheimer cut their price objective on shares of AGCO from $131.00 to $111.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, AGCO has a consensus rating of "Hold" and a consensus price target of $114.40.

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.