Mach 1 Financial Group LLC Lowers Stake in AGCO Co. (NYSE:AGCO)

Mach 1 Financial Group LLC cut its stake in AGCO Co. (NYSE:AGCO) by 62.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,191 shares of the industrial products company’s stock after selling 3,638 shares during the quarter. Mach 1 Financial Group LLC’s holdings in AGCO were worth $266,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of AGCO by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock valued at $799,047,000 after purchasing an additional 32,583 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of AGCO by 24.7% during the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after acquiring an additional 601,877 shares during the last quarter. AQR Capital Management LLC increased its position in shares of AGCO by 16.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock valued at $121,678,000 after acquiring an additional 142,701 shares during the period. Boston Partners increased its holdings in shares of AGCO by 3.5% in the third quarter. Boston Partners now owns 731,554 shares of the industrial products company’s stock valued at $86,527,000 after purchasing an additional 24,815 shares during the period. Finally, Mackenzie Financial Corp raised its position in AGCO by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock worth $87,794,000 after buying an additional 22,687 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AGCO has been the topic of several recent research reports. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Oppenheimer increased their target price on shares of AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Truist Financial initiated coverage on AGCO in a research report on Thursday, March 14th. They set a “buy” rating and a $142.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.50.

AGCO Stock Down 1.8 %

Shares of NYSE AGCO opened at $112.14 on Thursday. The stock has a market cap of $8.37 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.68 and a beta of 1.31. AGCO Co. has a 52-week low of $105.77 and a 52-week high of $140.46. The business has a 50-day moving average price of $116.47 and a 200 day moving average price of $117.00. The company has a quick ratio of 0.67, a current ratio of 1.46 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $4.03 by ($0.25). The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.47 EPS. Equities research analysts forecast that AGCO Co. will post 13.06 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 1.03%. AGCO’s payout ratio is currently 7.42%.

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.