AGCO Co. (NYSE:AGCO) Sees Significant Growth in Short Interest

AGCO Co. (NYSE:AGCO) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 4,990,000 shares, an increase of 8.5% from the November 30th total of 4,600,000 shares. Currently, 8.1% of the company’s shares are short sold. Based on an average trading volume of 949,900 shares, the days-to-cover ratio is presently 5.3 days.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Morgan Stanley began coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective on the stock. Finally, Truist Financial boosted their target price on AGCO from $110.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $108.10.

Institutional Trading of AGCO

A number of hedge funds have recently made changes to their positions in AGCO. Pacer Advisors Inc. grew its stake in AGCO by 103.5% in the second quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock worth $153,814,000 after purchasing an additional 799,429 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 worth $171,090,000 after buying an additional 605,509 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after acquiring an additional 391,591 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after acquiring an additional 335,092 shares during the last quarter. Finally, Barclays PLC raised its position in shares of AGCO by 386.8% during the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after acquiring an additional 198,014 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Trading Up 0.4 %

NYSE AGCO opened at $93.48 on Thursday. The company’s fifty day simple moving average is $96.26 and its 200-day simple moving average is $95.42. The stock has a market cap of $6.98 billion, a P/E ratio of 41.36, a PEG ratio of 0.56 and a beta of 1.24. AGCO has a 52 week low of $84.35 and a 52 week 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.

AGCO (NYSE:AGCO) last posted 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 firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $3.97 earnings per share. The business’s quarterly revenue was down 24.8% on a year-over-year basis. Equities research analysts predict that AGCO will post 7.36 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s payout ratio is 51.33%.

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.