AGCO Co. (NYSE:AGCO) Position Reduced by CoreCommodity Management LLC

CoreCommodity Management LLC lowered its stake in AGCO Co. (NYSE:AGCO - Free Report) by 56.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,553 shares of the industrial products company's stock after selling 24,031 shares during the period. CoreCommodity Management LLC's holdings in AGCO were worth $1,734,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc lifted its position in shares of AGCO by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock worth $212,000 after buying an additional 110 shares during the last quarter. Inspire Investing LLC raised its stake in AGCO by 2.8% during the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company's stock worth $402,000 after acquiring an additional 118 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in AGCO by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock worth $580,000 after acquiring an additional 144 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in AGCO by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock worth $612,000 after acquiring an additional 145 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in AGCO by 0.8% in the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock valued at $1,721,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Price Performance

Shares of AGCO stock opened at $94.34 on Wednesday. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $119.71. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company's 50-day moving average price is $89.51 and its two-hundred day moving average price is $94.73. The stock has a market cap of $7.04 billion, a PE ratio of -16.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20.

AGCO (NYSE:AGCO - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.03 by $0.38. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.06 billion. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. The business's quarterly revenue was down 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.32 earnings per share. As a group, sell-side analysts anticipate that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is presently -14.87%.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of analyst reports. Baird R W lowered AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. UBS Group set a $106.00 price target on shares of AGCO in a research report on Tuesday, April 22nd. Truist Financial cut their price objective on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. StockNews.com upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Oppenheimer cut their price target on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $101.80.

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.

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