AGCO Co. (NYSE:AGCO) Stake Lessened by Burney Co.

Burney Co. lessened its stake in AGCO Co. (NYSE:AGCO) by 83.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,261 shares of the industrial products company’s stock after selling 11,773 shares during the period. Burney Co.’s holdings in AGCO were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&T Bank Corp boosted its holdings in AGCO by 133.0% in the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after purchasing an additional 48,198 shares during the period. Royal London Asset Management Ltd. boosted its holdings in AGCO by 2.0% in the third 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. Stratos Wealth Advisors LLC boosted its holdings in AGCO by 42.3% in the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock worth $1,670,000 after purchasing an additional 5,069 shares during the period. Principal Financial Group Inc. boosted its holdings in AGCO by 28.2% in the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock worth $66,959,000 after purchasing an additional 150,656 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in AGCO by 150.1% in the third quarter. Crossmark Global Holdings Inc. now owns 16,591 shares of the industrial products company’s stock worth $1,624,000 after purchasing an additional 9,956 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO stock opened at $101.89 on Friday. The company has a market capitalization of $7.61 billion, a P/E ratio of 45.08, a PEG ratio of 0.90 and a beta of 1.25. The company has a 50-day simple moving average of $95.47 and a 200 day simple moving average of $94.96. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 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 the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.97 EPS. Sell-side analysts predict that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday. Oppenheimer reduced their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Truist Financial boosted their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Finally, The Goldman Sachs Group reduced their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.40.

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.