MQS Management LLC Sells 919 Shares of AGCO Co. (NYSE:AGCO)

MQS Management LLC lowered its holdings in AGCO Co. (NYSE:AGCO) by 19.6% in the third quarter, Holdings Channel reports. The firm owned 3,759 shares of the industrial products company’s stock after selling 919 shares during the quarter. MQS Management LLC’s holdings in AGCO were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares during the period. Victory Capital Management Inc. boosted its stake in AGCO by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after buying an additional 63,432 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after buying an additional 335,092 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of AGCO by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after buying an additional 391,591 shares during the period. Finally, AQR Capital Management LLC raised its position 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 purchasing an additional 605,509 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AGCO. BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 target price on the stock. Citigroup lifted their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $114.40.

AGCO Price Performance

Shares of NYSE AGCO opened at $92.37 on Friday. 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 stock has a fifty day simple moving average of $95.75 and a two-hundred day simple moving average of $98.61. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced 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). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the business posted $3.97 EPS. The company’s revenue was down 24.8% compared to the same quarter last year. Analysts anticipate that AGCO Co. will post 7.32 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.26%. AGCO’s dividend payout ratio is currently 51.33%.

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.