Sumitomo Mitsui Trust Group Inc. Sells 7,300 Shares of AGCO Co. (NYSE:AGCO)

Sumitomo Mitsui Trust Group Inc. lowered its stake in AGCO Co. (NYSE:AGCO - Free Report) by 24.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,331 shares of the industrial products company's stock after selling 7,300 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in AGCO were worth $2,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tectonic Advisors LLC bought a new position in shares of AGCO during the fourth quarter valued at approximately $390,000. Stratos Wealth Advisors LLC grew its stake in AGCO by 3.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 17,586 shares of the industrial products company's stock worth $1,644,000 after purchasing an additional 522 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in AGCO in the fourth quarter worth $3,144,000. Perigon Wealth Management LLC grew its stake in AGCO by 20.5% in the fourth quarter. Perigon Wealth Management LLC now owns 26,146 shares of the industrial products company's stock worth $2,615,000 after purchasing an additional 4,452 shares during the period. Finally, KBC Group NV grew its stake in AGCO by 4.7% in the fourth quarter. KBC Group NV now owns 23,441 shares of the industrial products company's stock worth $2,191,000 after purchasing an additional 1,060 shares during the period. Institutional investors own 78.80% of the company's stock.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Citigroup cut their target price on AGCO from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised AGCO from a "sell" rating to a "hold" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their target price on AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 15th. Finally, Truist Financial increased their target price on AGCO from $109.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, AGCO has an average rating of "Hold" and an average target price of $107.20.

AGCO Stock Performance

Shares of NYSE AGCO traded up $3.88 during trading on Monday, hitting $98.02. The company had a trading volume of 1,022,152 shares, compared to its average volume of 697,976. The stock has a 50 day simple moving average of $97.48 and a 200 day simple moving average of $95.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.72 and a current ratio of 1.34. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $125.76. The firm has a market capitalization of $7.32 billion, a P/E ratio of -17.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (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 anticipate that AGCO Co. will post 4.22 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, February 14th. AGCO's dividend payout ratio is presently -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.