Commonwealth Equity Services LLC Trims Stock Holdings in AGCO Co. (NYSE:AGCO)

Commonwealth Equity Services LLC trimmed its position in AGCO Co. (NYSE:AGCO - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,818 shares of the industrial products company's stock after selling 2,874 shares during the period. Commonwealth Equity Services LLC's holdings in AGCO were worth $1,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AGCO. Swiss National Bank raised its position in shares of AGCO by 0.7% in the 4th quarter. Swiss National Bank now owns 124,800 shares of the industrial products company's stock worth $11,666,000 after acquiring an additional 900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in AGCO in the fourth quarter worth $790,000. Sequoia Financial Advisors LLC lifted its position in AGCO by 57.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,991 shares of the industrial products company's stock valued at $373,000 after buying an additional 1,464 shares during the period. HighTower Advisors LLC boosted its holdings in shares of AGCO by 4.2% during the 4th quarter. HighTower Advisors LLC now owns 8,359 shares of the industrial products company's stock valued at $781,000 after buying an additional 340 shares in the last quarter. Finally, AGF Management Ltd. grew its position in shares of AGCO by 19.6% in the 4th quarter. AGF Management Ltd. now owns 205,562 shares of the industrial products company's stock worth $19,216,000 after buying an additional 33,633 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 15th. Truist Financial boosted their price target on AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. StockNews.com lowered AGCO from a "hold" rating to a "sell" rating in a research report on Thursday. Baird R W downgraded AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Robert W. Baird cut AGCO from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $104.60.

AGCO Stock Performance

Shares of AGCO traded down $2.69 during mid-day trading on Friday, hitting $79.45. 2,652,579 shares of the company traded hands, compared to its average volume of 866,268. AGCO Co. has a 1 year low of $73.79 and a 1 year high of $125.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The stock has a 50-day moving average price of $96.97 and a two-hundred day moving average price of $96.82. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of -13.96, a P/E/G ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share 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%. Equities analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.46%. AGCO's dividend payout ratio is currently -20.39%.

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.