AGCO Co. (NYSE:AGCO) Shares Sold by LGT Group Foundation

LGT Group Foundation cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 61.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,541 shares of the industrial products company’s stock after selling 29,345 shares during the quarter. LGT Group Foundation’s holdings in AGCO were worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AGCO. Commonwealth Equity Services LLC increased its holdings in AGCO by 356.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock valued at $3,697,000 after purchasing an additional 24,408 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of AGCO by 23.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 104,597 shares of the industrial products company’s stock worth $12,372,000 after buying an additional 19,893 shares during the period. Xponance Inc. grew its stake in shares of AGCO by 19.1% in the third quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock valued at $1,067,000 after buying an additional 1,448 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of AGCO in the 3rd quarter valued at $26,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in AGCO by 161.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,461 shares of the industrial products company’s stock worth $1,237,000 after acquiring an additional 6,467 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AGCO shares. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Oppenheimer dropped their price objective on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial reduced their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.83.

AGCO Stock Up 1.0 %

Shares of AGCO stock opened at $111.79 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. AGCO Co. has a 52-week low of $105.77 and a 52-week high of $140.46. The company has a market capitalization of $8.34 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.69 and a beta of 1.32. The company has a 50 day moving average of $116.61 and a 200 day moving average of $116.90.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.51 EPS. As a group, research analysts forecast that AGCO Co. will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.04%. AGCO’s payout ratio is currently 7.85%.

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.