Crestline Management LP Trims Position in AGCO Co. (NYSE:AGCO)

Crestline Management LP trimmed its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,010 shares of the industrial products company's stock after selling 9,808 shares during the quarter. Crestline Management LP's holdings in AGCO were worth $749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGCO. Cetera Investment Advisers grew its holdings in AGCO by 13.5% in the 4th quarter. Cetera Investment Advisers now owns 14,511 shares of the industrial products company's stock valued at $1,357,000 after buying an additional 1,721 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of AGCO in the fourth quarter valued at about $260,000. Balyasny Asset Management L.P. increased its position in AGCO by 7.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 571,133 shares of the industrial products company's stock worth $53,390,000 after purchasing an additional 40,661 shares during the last quarter. Bank of America Corp DE boosted its holdings in AGCO by 257.7% in the 4th quarter. Bank of America Corp DE now owns 376,647 shares of the industrial products company's stock valued at $35,209,000 after purchasing an additional 271,356 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of AGCO by 48.0% in the 4th quarter. BNP Paribas Financial Markets now owns 46,933 shares of the industrial products company's stock valued at $4,387,000 after buying an additional 15,220 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

Shares of AGCO stock traded up $0.80 during trading on Tuesday, reaching $106.24. The company's stock had a trading volume of 1,012,467 shares, compared to its average volume of 895,850. The firm has a market cap of $7.92 billion, a PE ratio of -18.67, a P/E/G ratio of 1.80 and a beta of 1.20. The company has a 50-day moving average price of $90.04 and a two-hundred day moving average price of $94.69. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a fifty-two week low of $73.79 and a fifty-two week high of $119.71.

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

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 annualized dividend and a dividend yield of 1.09%. AGCO's payout ratio is currently -14.87%.

Analyst Upgrades and Downgrades

AGCO has been the subject of several research reports. Baird R W downgraded shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Oppenheimer reduced their price target on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Truist Financial reduced their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group set a $106.00 price objective on AGCO in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.70.

AGCO 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.