AGCO Co. (NYSE:AGCO) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. reduced its position in AGCO Co. (NYSE:AGCO - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 667,340 shares of the industrial products company's stock after selling 63,375 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.89% of AGCO worth $62,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AGCO. Pinebridge Investments L.P. increased its holdings in AGCO by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 23,675 shares of the industrial products company's stock valued at $2,213,000 after buying an additional 7,087 shares during the period. Blue Door Asset Management LLC boosted its stake in shares of AGCO by 143.6% in the fourth quarter. Blue Door Asset Management LLC now owns 109,600 shares of the industrial products company's stock worth $10,245,000 after buying an additional 64,600 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in AGCO by 128.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after acquiring an additional 3,654,350 shares during the period. Southernsun Asset Management LLC grew its holdings in AGCO by 6.1% during the fourth quarter. Southernsun Asset Management LLC now owns 409,957 shares of the industrial products company's stock worth $38,323,000 after acquiring an additional 23,513 shares during the period. Finally, Hsbc Holdings PLC boosted its position in AGCO by 5.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,257 shares of the industrial products company's stock worth $1,053,000 after purchasing an additional 568 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup upgraded AGCO from a "neutral" rating to a "buy" rating and decreased their target price for the company from $98.00 to $90.00 in a research report on Tuesday, April 8th. Baird R W cut AGCO from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Morgan Stanley cut AGCO from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $94.00 to $75.00 in a research note on Wednesday, April 16th. JPMorgan Chase & Co. increased their price target on AGCO from $102.00 to $111.00 and gave the company an "overweight" rating in a research report on Wednesday, January 15th. Finally, Truist Financial reduced their target price on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, AGCO presently has a consensus rating of "Hold" and an average price target of $99.80.

AGCO Price Performance

Shares of AGCO stock traded up $8.05 on Thursday, hitting $92.88. The company's stock had a trading volume of 699,311 shares, compared to its average volume of 894,375. AGCO Co. has a 52-week low of $73.79 and a 52-week high of $119.71. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average price of $89.93 and a 200-day moving average price of $94.98. The company has a market capitalization of $6.93 billion, a P/E ratio of -16.30, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.29. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. During the same quarter in the prior year, the firm earned $2.32 earnings per share. The company's revenue was down 30.0% on a year-over-year basis. On average, equities research analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.25%. AGCO's dividend payout ratio (DPR) is currently -20.39%.

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.