Nvest Financial LLC Trims Position in AGCO Co. (NYSE:AGCO)

Nvest Financial LLC cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 9.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,117 shares of the industrial products company’s stock after selling 428 shares during the quarter. Nvest Financial LLC’s holdings in AGCO were worth $506,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in shares of AGCO during the 4th quarter valued at approximately $26,000. Allworth Financial LP grew its stake in AGCO by 72.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 120 shares during the period. American National Bank acquired a new stake in AGCO in the 4th quarter valued at $37,000. Denali Advisors LLC grew its stake in AGCO by 50.0% in the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 103 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in AGCO in the 4th quarter valued at $45,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AGCO has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday. Truist Financial dropped their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Oppenheimer dropped their price objective on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Raymond James started coverage on shares of AGCO in a report on Friday. They issued a “market perform” rating for the company. Finally, Citigroup started coverage on shares of AGCO in a report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, AGCO presently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

AGCO Stock Up 0.5 %

Shares of AGCO traded up $0.52 during mid-day trading on Tuesday, hitting $96.10. 856,256 shares of the company’s stock were exchanged, compared to its average volume of 742,437. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 0.62 and a beta of 1.27. AGCO Co. has a fifty-two week low of $95.03 and a fifty-two week high of $140.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The stock’s 50-day moving average is $107.52 and its 200-day moving average is $114.14.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 earnings per share. On average, sell-side analysts anticipate that AGCO Co. will post 11.82 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a yield of 1%. AGCO’s dividend payout ratio (DPR) is 7.85%.

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.