Fifth Third Bancorp Reduces Stock Holdings in AGCO Co. (NYSE:AGCO)

Fifth Third Bancorp lessened its holdings in shares of AGCO Co. (NYSE:AGCO) by 18.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,203 shares of the industrial products company’s stock after selling 274 shares during the quarter. Fifth Third Bancorp’s holdings in AGCO were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its position in 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 purchasing an additional 117 shares during the period. Inspire Investing LLC boosted its stake in shares of AGCO by 2.8% in the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock worth $402,000 after buying an additional 118 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in AGCO by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock worth $1,666,000 after acquiring an additional 126 shares during the period. Farther Finance Advisors LLC raised its position in AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 139 shares in the last quarter. Finally, OLD National Bancorp IN lifted its holdings in AGCO by 4.1% in the third quarter. OLD National Bancorp IN now owns 3,880 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 152 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AGCO shares. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Oppenheimer raised their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup lowered their target price on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group cut their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $107.20.

AGCO Stock Down 1.9 %

AGCO opened at $104.34 on Friday. The company has a market cap of $7.79 billion, a PE ratio of 46.17, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a 50-day moving average price of $97.74 and a 200 day moving average price of $95.52. 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 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. AGCO’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.97 earnings per share. Sell-side analysts expect that AGCO Co. will post 7.33 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. AGCO’s payout ratio is currently 51.33%.

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.