PNC Financial Services Group Inc. Sells 18,185 Shares of AGCO Co. (NYSE:AGCO)

PNC Financial Services Group Inc. decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 57.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,626 shares of the industrial products company’s stock after selling 18,185 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AGCO were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AGCO. Forum Financial Management LP increased its position in AGCO by 5.5% during the 2nd quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 109 shares in the last quarter. Capital Insight Partners LLC lifted its stake in shares of AGCO by 2.6% in the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 110 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of AGCO by 0.7% during the 3rd 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. Farther Finance Advisors LLC grew its position in AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in AGCO by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 5,604 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO stock opened at $101.46 on Thursday. The business has a 50-day moving average price of $96.82 and a two-hundred day moving average price of $97.29. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.57 billion, a P/E ratio of 44.89, a PEG ratio of 0.57 and a beta of 1.25.

AGCO (NYSE:AGCO) last released 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). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business earned $3.97 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. As a group, analysts anticipate that AGCO Co. will post 7.34 EPS for the current year.

AGCO Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. AGCO’s payout ratio is presently 51.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AGCO shares. Oppenheimer cut their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Truist Financial boosted their target price on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group dropped their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AGCO currently has an average rating of “Hold” and a consensus target price of $114.40.

About AGCO

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.