Retirement Systems of Alabama Sells 1,185 Shares of AGCO Co. (NYSE:AGCO)

Retirement Systems of Alabama cut its position in shares of AGCO Co. (NYSE:AGCO) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,258 shares of the industrial products company’s stock after selling 1,185 shares during the quarter. Retirement Systems of Alabama’s holdings in AGCO were worth $7,365,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock worth $362,152,000 after purchasing an additional 63,432 shares during the period. Dimensional Fund Advisors LP raised its holdings in AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after purchasing an additional 335,092 shares during the period. Pacer Advisors Inc. grew its holdings in AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after purchasing an additional 538,955 shares during the period. State Street Corp raised its stake in shares of AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after buying an additional 80,846 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after acquiring an additional 66,303 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Price Performance

AGCO stock opened at $96.87 on Wednesday. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 42.86, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. The firm has a 50-day moving average of $97.54 and a two-hundred day moving average of $96.23. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period last year, the firm earned $3.97 earnings per share. On average, research analysts forecast that AGCO Co. will post 7.36 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, November 15th. AGCO’s dividend payout ratio is currently 51.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on AGCO shares. Citigroup upped their target price on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th. Morgan Stanley began coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price for the company. Oppenheimer cut their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial boosted their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, AGCO presently has a consensus rating of “Hold” and a consensus price target of $113.18.

AGCO Company 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.