MQS Management LLC Sells 919 Shares of AGCO Co. (NYSE:AGCO)

MQS Management LLC reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 19.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,759 shares of the industrial products company’s stock after selling 919 shares during the quarter. MQS Management LLC’s holdings in AGCO were worth $368,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AGCO. Vanguard Group Inc. raised its holdings in shares of AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after acquiring an additional 784,617 shares during the last quarter. Victory Capital Management Inc. grew its holdings in AGCO by 1.7% during 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 acquiring an additional 63,432 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after purchasing an additional 335,092 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in AGCO by 28.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after buying an additional 391,591 shares during the period. Finally, AQR Capital Management LLC raised its stake in AGCO by 53.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after acquiring an additional 605,509 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

Shares of AGCO opened at $92.37 on Friday. AGCO Co. has a one year low of $84.35 and a one 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. The company has a market capitalization of $6.89 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25. The company’s fifty day moving average price is $95.75 and its 200 day moving average price is $98.61.

AGCO (NYSE:AGCO) last issued its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the business earned $3.97 earnings per share. As a group, analysts expect that AGCO Co. will post 7.32 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio is 51.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AGCO. Truist Financial increased their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird lowered their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets started coverage on shares of AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. Finally, UBS Group lowered their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.40.

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.