Fmr LLC Has $11.78 Million Position in AGCO Co. (NYSE:AGCO)

FMR LLC cut its position in shares of AGCO Co. (NYSE:AGCO - Free Report) by 7.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,330 shares of the industrial products company's stock after selling 9,908 shares during the quarter. FMR LLC owned 0.16% of AGCO worth $11,776,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of AGCO by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company's stock worth $362,152,000 after purchasing an additional 63,432 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company's stock worth $221,187,000 after purchasing an additional 335,092 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of 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. Massachusetts Financial Services Co. MA lifted its position in shares of AGCO by 3.7% in 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 purchasing an additional 66,303 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company's stock worth $171,090,000 after purchasing an additional 605,509 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Price Performance

Shares of NYSE AGCO traded down $1.87 during midday trading on Thursday, reaching $96.77. 722,468 shares of the company traded hands, compared to its average volume of 788,632. The firm has a market cap of $7.22 billion, a PE ratio of 43.65, a PEG ratio of 0.55 and a beta of 1.24. The stock's 50-day simple moving average is $97.55 and its 200-day simple moving average is $96.48. AGCO Co. has a 12 month low of $84.35 and a 12 month 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.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results 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 prior year, the firm earned $3.97 earnings per share. The business's quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that AGCO Co. will post 7.36 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. AGCO's payout ratio is 51.33%.

Wall Street Analyst Weigh In

AGCO has been the topic of a number of research reports. StockNews.com downgraded AGCO from a "hold" rating to a "sell" rating in a report on Wednesday. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their price target on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. Citigroup increased their price target on AGCO from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Monday. Finally, Morgan Stanley assumed coverage on AGCO in a report on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.18.

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.