Focus Partners Wealth Reduces Stock Position in AGCO Co. (NYSE:AGCO)

Focus Partners Wealth lowered its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 43.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,556 shares of the industrial products company's stock after selling 5,090 shares during the quarter. Focus Partners Wealth's holdings in AGCO were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc raised 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 acquiring an additional 110 shares in the last quarter. Inspire Investing LLC increased its position in AGCO by 2.8% during the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company's stock valued at $402,000 after buying an additional 118 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in AGCO by 2.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock valued at $580,000 after purchasing an additional 144 shares during the last quarter. Neuberger Berman Group LLC grew its stake in AGCO by 2.3% during 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 last quarter. Finally, Arizona State Retirement System grew its stake in 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AGCO. Citigroup upped their target price on AGCO from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. StockNews.com raised AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Truist Financial cut their price target on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley increased their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Finally, Robert W. Baird lowered AGCO from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $103.30.

Insider Activity

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the transaction, the senior vice president now owns 17,380 shares in the company, valued at $1,845,408.40. The trade was a 1.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 16.60% of the company's stock.

AGCO Trading Down 1.2%

NYSE:AGCO opened at $107.16 on Tuesday. The firm has a market cap of $7.99 billion, a PE ratio of -18.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The stock has a fifty day moving average price of $90.79 and a 200 day moving average price of $94.90. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $110.49. 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 (NYSE:AGCO - Get Free Report) last announced 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 company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. AGCO's revenue for the quarter was down 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 EPS. Sell-side analysts anticipate 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. 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 1.08%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO's dividend payout ratio (DPR) is currently -14.87%.

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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