AGCO Co. (NYSE:AGCO) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 56.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,930 shares of the industrial products company’s stock after selling 5,089 shares during the quarter. AIA Group Ltd’s holdings in AGCO were worth $367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of AGCO during the 4th quarter worth about $3,144,000. Gateway Investment Advisers LLC acquired a new stake in shares of AGCO during the fourth quarter valued at about $311,000. Olstein Capital Management L.P. raised its stake in shares of AGCO by 20.8% in the 4th quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock valued at $1,355,000 after acquiring an additional 2,500 shares during the period. M&T Bank Corp lifted its holdings in shares of AGCO by 133.0% in the 3rd quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after acquiring an additional 48,198 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of AGCO by 2.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock worth $61,024,000 after purchasing an additional 12,328 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AGCO. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Oppenheimer lifted their target price on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. 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 price target on the stock. Finally, Citigroup raised their price objective on shares of AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, March 17th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $104.60.

AGCO Price Performance

AGCO stock opened at $92.69 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $98.16 and a 200-day simple moving average of $97.03. The stock has a market cap of $6.91 billion, a P/E ratio of -16.29, a price-to-earnings-growth 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.

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

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.25%. AGCO’s dividend payout ratio is currently -20.39%.

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.