Prudential Financial Inc. Reduces Holdings in AGCO Co. (NYSE:AGCO)

Prudential Financial Inc. reduced its position in AGCO Co. (NYSE:AGCO - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,751 shares of the industrial products company's stock after selling 4,358 shares during the quarter. Prudential Financial Inc.'s holdings in AGCO were worth $538,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its holdings in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock valued at $212,000 after buying an additional 110 shares during the period. Inspire Investing LLC lifted its stake in shares of AGCO by 2.8% in the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company's stock valued at $402,000 after purchasing an additional 118 shares during the period. Arizona State Retirement System lifted its stake in shares of AGCO by 0.8% in the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock valued at $1,721,000 after purchasing an additional 150 shares during the period. UMB Bank n.a. grew its stake in AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock worth $32,000 after purchasing an additional 154 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in AGCO by 30.8% in the fourth quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company's stock worth $64,000 after purchasing an additional 162 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

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Analyst Ratings Changes

AGCO has been the topic of a number of research analyst reports. Baird R W cut shares of AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Truist Financial decreased their price target on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. UBS Group lowered their price target on shares of AGCO from $100.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Citigroup raised shares of AGCO from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $98.00 to $90.00 in a report on Tuesday, April 8th. Finally, Oppenheimer raised their price target on AGCO from $108.00 to $109.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $100.90.

AGCO Price Performance

NYSE AGCO traded up $2.18 during trading hours on Friday, reaching $86.09. 749,853 shares of the stock traded hands, compared to its average volume of 886,748. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The stock has a 50 day simple moving average of $93.78 and a two-hundred day simple moving average of $96.18. AGCO Co. has a 1 year low of $73.79 and a 1 year high of $121.78. The company has a market cap of $6.42 billion, a price-to-earnings ratio of -15.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, analysts predict that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.35%. AGCO's dividend payout ratio (DPR) is -20.39%.

AGCO 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.