Massachusetts Financial Services Co. MA Cuts Stock Position in AGCO Co. (NYSE:AGCO)

Massachusetts Financial Services Co. MA decreased its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,753,151 shares of the industrial products company's stock after selling 104,354 shares during the period. Massachusetts Financial Services Co. MA owned about 2.35% of AGCO worth $163,885,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AGCO. Norges Bank purchased a new stake in AGCO in the 4th quarter valued at about $57,321,000. Edge Capital Group LLC bought a new position in shares of AGCO in the fourth quarter valued at approximately $39,269,000. JPMorgan Chase & Co. increased its position in shares of AGCO by 83.6% during the fourth quarter. JPMorgan Chase & Co. now owns 630,098 shares of the industrial products company's stock valued at $58,902,000 after acquiring an additional 286,958 shares during the last quarter. Barclays PLC lifted its holdings in AGCO by 386.8% during the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock worth $24,389,000 after acquiring an additional 198,014 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in AGCO in the fourth quarter worth $16,845,000. Institutional investors own 78.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday. UBS Group cut their price objective on shares of AGCO from $100.00 to $88.00 and set a "neutral" rating for the company in a report on Monday. Baird R W cut AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Robert W. Baird cut shares of AGCO from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $100.90.

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AGCO Trading Up 13.4 %

AGCO stock traded up $10.13 during mid-day trading on Wednesday, hitting $85.90. The company's stock had a trading volume of 2,515,817 shares, compared to its average volume of 882,017. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -15.10, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. AGCO Co. has a 12 month low of $73.79 and a 12 month high of $125.76. The business has a 50 day moving average price of $94.46 and a 200-day moving average price of $96.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 EPS 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%. As a group, analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, February 14th. AGCO's 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.