Amundi Cuts Position in AGCO Co. (NYSE:AGCO)

Amundi reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 211,898 shares of the industrial products company’s stock after selling 1,304 shares during the period. Amundi’s holdings in AGCO were worth $19,123,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 110 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 117 shares in the last quarter. Inspire Investing LLC lifted its position in AGCO by 2.8% during the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 118 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in AGCO by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after acquiring an additional 126 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AGCO. JPMorgan Chase & Co. increased their price objective on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $100.00 in a report on Monday, March 3rd. Oppenheimer lifted their target price on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Truist Financial upped their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.30.

AGCO Trading Down 2.6 %

AGCO stock opened at $91.96 on Friday. The firm has a market cap of $6.86 billion, a PE ratio of -16.16, a P/E/G ratio of 1.80 and a beta of 1.24. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $125.76. The stock’s 50 day simple moving average is $98.41 and its two-hundred day simple moving average is $96.47. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. Analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. AGCO’s dividend payout ratio is presently -20.39%.

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.