PNC Financial Services Group Inc. lessened its position in shares of AGCO Co. (NYSE:AGCO – Free Report) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,175 shares of the industrial products company’s stock after selling 5,951 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of AGCO worth $4,999,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Strs Ohio lifted its stake in AGCO by 0.7% in the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock valued at $1,467,000 after buying an additional 87 shares during the period. Nkcfo LLC boosted its holdings in AGCO by 20.5% during the third quarter. Nkcfo LLC now owns 530 shares of the industrial products company’s stock worth $63,000 after buying an additional 90 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in AGCO by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares during the last quarter. State of Michigan Retirement System boosted its holdings in AGCO by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after buying an additional 100 shares during the last quarter. Finally, Denali Advisors LLC boosted its holdings in AGCO by 50.0% during the fourth quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.
AGCO Stock Down 0.8 %
Shares of AGCO stock opened at $106.54 on Friday. The business’s 50 day simple moving average is $117.12 and its 200 day simple moving average is $116.75. AGCO Co. has a 52-week low of $105.77 and a 52-week high of $140.46. The firm has a market cap of $7.95 billion, a PE ratio of 7.21, a P/E/G ratio of 0.66 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99.
AGCO (NYSE:AGCO – Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.51 EPS. On average, analysts predict that AGCO Co. will post 12.18 earnings per share for the current fiscal year.
AGCO Cuts Dividend
The business also recently declared a 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. This represents a dividend yield of 1%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.85%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. reduced their target price on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Truist Financial dropped their price target on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Oppenheimer dropped their price target on AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. One 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.
View Our Latest Research Report on AGCO
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.
Featured Articles
Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Co. (NYSE:AGCO – Free Report).
Receive News & Ratings for AGCO Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AGCO and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
