AQR Capital Management LLC Decreases Stake in AGCO Co. (NYSE:AGCO)

AQR Capital Management LLC cut its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 81.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,012 shares of the industrial products company's stock after selling 273,059 shares during the period. AQR Capital Management LLC owned approximately 0.08% of AGCO worth $5,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its position in shares of AGCO by 5.1% during 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 in the last quarter. Inspire Investing LLC lifted its holdings 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 boosted its position 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 purchasing an additional 144 shares during the last quarter. Neuberger Berman Group LLC grew its stake in AGCO by 2.3% in the 4th quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock valued at $612,000 after purchasing an additional 145 shares during the period. Finally, Arizona State Retirement System increased its position in shares of AGCO by 0.8% during the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock valued at $1,721,000 after purchasing an additional 150 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AGCO. UBS Group set a $106.00 price target on shares of AGCO in a research report on Tuesday, April 22nd. Baird R W downgraded shares of AGCO from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Oppenheimer lowered their price target on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Citigroup upped their price objective on AGCO from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Truist Financial decreased their target price on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. One 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, AGCO currently has a consensus rating of "Hold" and an average target price of $101.80.

AGCO Price Performance

AGCO stock traded up $1.32 during midday trading on Friday, hitting $99.41. 745,206 shares of the company's stock were exchanged, compared to its average volume of 894,165. The stock has a 50-day moving average price of $89.76 and a two-hundred day moving average price of $94.65. AGCO Co. has a 52-week low of $73.79 and a 52-week high of $119.71. The company has a market cap of $7.41 billion, a P/E ratio of -17.47, a PEG ratio of 1.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.38. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same period in the prior year, the business earned $2.32 earnings per share. AGCO's revenue for the quarter was down 30.0% compared to the same quarter last year. On average, equities research analysts forecast that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO's payout ratio is currently -14.87%.

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.