AGCO Co. (NYSE:AGCO) Stock Holdings Lessened by Southernsun Asset Management LLC

Southernsun Asset Management LLC cut its stake in AGCO Co. (NYSE:AGCO - Free Report) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 386,444 shares of the industrial products company's stock after selling 33,397 shares during the period. AGCO comprises approximately 4.5% of Southernsun Asset Management LLC's portfolio, making the stock its 11th largest position. Southernsun Asset Management LLC owned approximately 0.52% of AGCO worth $37,817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of AGCO by 377.0% during the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company's stock worth $2,177,000 after buying an additional 13,985 shares during the period. Cetera Advisors LLC purchased a new stake in shares of AGCO in the 1st quarter worth about $247,000. Mather Group LLC. increased its stake in shares of AGCO by 40.6% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the industrial products company's stock worth $62,000 after purchasing an additional 182 shares in the last quarter. CWM LLC increased its position in AGCO by 71.0% during the second quarter. CWM LLC now owns 10,455 shares of the industrial products company's stock worth $1,023,000 after buying an additional 4,341 shares in the last quarter. Finally, OLD National Bancorp IN raised its stake in AGCO by 87.8% in the 2nd quarter. OLD National Bancorp IN now owns 3,728 shares of the industrial products company's stock valued at $365,000 after purchasing an additional 1,743 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Performance

AGCO traded down $0.69 on Friday, hitting $96.77. 302,914 shares of the company's stock were exchanged, compared to its average volume of 784,516. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average of $97.55 and a two-hundred day moving average of $96.84. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The firm has a market cap of $7.22 billion, a PE ratio of 43.12, a P/E/G ratio of 0.57 and a beta of 1.24.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the company posted $3.97 earnings per share. The firm's revenue for the quarter was down 24.8% compared to the same quarter last year. On average, research analysts anticipate that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AGCO. Citigroup increased their price target on AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Morgan Stanley assumed coverage on shares of AGCO in a research report on Tuesday. They set an "equal weight" rating and a $101.00 target price on the stock. Truist Financial raised their target price on AGCO from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Oppenheimer cut their price target on AGCO from $131.00 to $111.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Finally, BMO Capital Markets assumed coverage on AGCO in a research note on Friday, August 9th. They set a "market perform" rating and a $96.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $113.18.

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.