Moran Wealth Management LLC reduced its stake in AGCO Co. (NYSE:AGCO - Free Report) by 40.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,898 shares of the industrial products company's stock after selling 31,745 shares during the period. Moran Wealth Management LLC owned 0.06% of AGCO worth $4,589,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LRI Investments LLC acquired a new position in shares of AGCO during the first quarter valued at approximately $30,000. Blue Trust Inc. boosted its stake in AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company's stock worth $34,000 after purchasing an additional 174 shares during the period. Venturi Wealth Management LLC boosted its stake in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company's stock worth $36,000 after purchasing an additional 210 shares during the period. First Horizon Advisors Inc. boosted its stake in AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock worth $40,000 after purchasing an additional 167 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after purchasing an additional 139 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently commented on AGCO. Robert W. Baird decreased their price objective on shares of AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. UBS Group cut their price target on shares of AGCO from $107.00 to $104.00 and set a "neutral" rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded shares of AGCO from a "hold" rating to a "sell" rating in a report on Wednesday. The Goldman Sachs Group decreased their price target on shares of AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Finally, Truist Financial raised their price target on shares of AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $114.40.
Read Our Latest Stock Report on AGCO
AGCO Price Performance
Shares of AGCO stock traded up $5.99 during trading on Thursday, hitting $97.97. 251,115 shares of the company's stock traded hands, compared to its average volume of 781,114. The company has a market cap of $7.31 billion, a PE ratio of 43.35, a PEG ratio of 0.52 and a beta of 1.25. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The firm's fifty day moving average price is $96.17 and its 200 day moving average price is $97.88.
AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 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 analyst estimates of $2.90 billion. During the same quarter last year, the firm earned $3.97 earnings per share. AGCO's quarterly revenue was down 24.8% on a year-over-year basis. Analysts forecast that AGCO Co. will post 7.32 earnings per share for the current year.
AGCO Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, November 15th. AGCO's dividend payout ratio is presently 51.33%.
About AGCO
(
Free Report)
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.
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