AGCO Co. (NYSE:AGCO) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,024 shares of the industrial products company’s stock after selling 595 shares during the period. MetLife Investment Management LLC’s holdings in AGCO were worth $3,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in shares of AGCO by 29.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,713 shares of the industrial products company’s stock valued at $3,103,000 after acquiring an additional 7,124 shares in the last quarter. Rock Point Advisors LLC lifted its holdings in shares of AGCO by 6.0% during the 3rd quarter. Rock Point Advisors LLC now owns 19,630 shares of the industrial products company’s stock valued at $1,921,000 after acquiring an additional 1,111 shares in the last quarter. Brooklyn Investment Group acquired a new position in AGCO in the 3rd quarter worth $29,000. The Manufacturers Life Insurance Company lifted its holdings in AGCO by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 95,874 shares of the industrial products company’s stock worth $9,383,000 after buying an additional 2,844 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in AGCO in the 3rd quarter worth $479,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

AGCO opened at $100.61 on Wednesday. The company has a 50-day moving average of $97.44 and a 200-day moving average of $96.81. The company has a market capitalization of $7.51 billion, a P/E ratio of 44.52, a PEG ratio of 0.58 and a beta of 1.24. 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 quick ratio of 0.72 and a current ratio of 1.53.

AGCO (NYSE:AGCO) last announced its quarterly earnings data 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). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the company earned $3.97 EPS. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. Equities analysts expect that AGCO Co. will post 7.34 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio is presently 51.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer cut their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets assumed coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective on the stock. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday. They issued an “equal weight” rating and a $101.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, AGCO currently has a consensus rating of “Hold” and a consensus target price of $113.18.

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.