Victory Capital Management Inc. cut its stake in AGCO Co. (NYSE:AGCO - Free Report) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,527,225 shares of the industrial products company's stock after selling 172,739 shares during the quarter. Victory Capital Management Inc. owned about 4.73% of AGCO worth $345,174,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LRI Investments LLC bought a new position in AGCO in the first quarter worth $30,000. Blue Trust Inc. grew its position in shares of 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 buying an additional 174 shares during the period. Venturi Wealth Management LLC increased its stake in shares of 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 acquiring an additional 210 shares in the last quarter. First Horizon Advisors Inc. lifted its position in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 167 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $41,000 after acquiring an additional 139 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.
AGCO Stock Performance
AGCO stock traded down $1.44 during trading on Tuesday, reaching $90.34. The stock had a trading volume of 1,122,209 shares, compared to its average volume of 776,367. The firm has a market cap of $6.74 billion, a PE ratio of 39.97, a PEG ratio of 0.95 and a beta of 1.25. 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's 50 day moving average is $95.75 and its two-hundred day moving average is $98.67. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26.
AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) 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 business had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the previous year, the business posted $3.97 EPS. The business's quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that AGCO Co. will post 7.3 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. Investors of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.28%. AGCO's dividend payout ratio is currently 51.33%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on AGCO. Barclays lowered their target price on shares of AGCO from $145.00 to $110.00 and set an "equal weight" rating for the company in a report on Thursday, July 18th. Truist Financial boosted their target price on AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Citigroup raised their price target on AGCO from $88.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. UBS Group dropped their price target on shares of AGCO from $107.00 to $104.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 31st. Finally, Robert W. Baird reduced 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $114.40.
Read Our Latest Stock Analysis on AGCO
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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