JPMorgan Chase & Co. Cuts Stock Holdings in AGCO Co. (NYSE:AGCO)

JPMorgan Chase & Co. decreased its stake in AGCO Co. (NYSE:AGCO - Free Report) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,140 shares of the industrial products company's stock after selling 93,573 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.46% of AGCO worth $33,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AGCO. Brooklyn Investment Group acquired a new stake in AGCO during the 3rd quarter worth $29,000. Venturi Wealth Management LLC lifted its stake in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after buying an additional 210 shares in the last quarter. Farther Finance Advisors LLC boosted its position in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after acquiring an additional 139 shares during the last quarter. LRI Investments LLC grew its stake in AGCO by 50.0% during the 3rd quarter. LRI Investments LLC now owns 510 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 170 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AGCO. Citigroup boosted their target price on AGCO from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Monday, December 9th. The Goldman Sachs Group lowered their price objective on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Truist Financial raised their target price on AGCO from $110.00 to $116.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an "equal weight" rating and a $101.00 price target on the stock. Finally, StockNews.com upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, AGCO has an average rating of "Hold" and an average price target of $108.10.

AGCO Trading Up 0.6 %

Shares of AGCO stock traded up $0.58 on Tuesday, reaching $91.73. The company had a trading volume of 738,562 shares, compared to its average volume of 703,591. The firm's 50 day moving average price is $95.54 and its two-hundred day moving average price is $95.09. 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 Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The firm has a market cap of $6.85 billion, a PE ratio of 40.59, a PEG ratio of 0.56 and a beta of 1.25.

AGCO (NYSE:AGCO - Get Free Report) last announced its 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 firm had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the previous year, the firm earned $3.97 EPS. The firm's revenue for the quarter was down 24.8% compared to the same quarter last year. Sell-side analysts predict that AGCO Co. will post 7.36 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, November 15th. AGCO's dividend payout ratio is currently 51.33%.

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.