Lazard Asset Management LLC Sells 7,300 Shares of AGCO Co. (NYSE:AGCO)

Lazard Asset Management LLC cut its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,353 shares of the industrial products company's stock after selling 7,300 shares during the period. Lazard Asset Management LLC's holdings in AGCO were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AGCO. Barclays PLC raised its position in shares of AGCO by 386.8% in the 3rd quarter. Barclays PLC now owns 249,209 shares of the industrial products company's stock worth $24,389,000 after acquiring an additional 198,014 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of AGCO by 96.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,473 shares of the industrial products company's stock worth $2,288,000 after acquiring an additional 12,031 shares in the last quarter. Gateway Investment Advisers LLC bought a new position in shares of AGCO in the 4th quarter worth about $311,000. UMB Bank n.a. raised its position in shares of AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company's stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of AGCO in the 4th quarter worth about $245,000. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on AGCO from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Baird R W downgraded AGCO from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. Morgan Stanley raised their target price on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Robert W. Baird downgraded AGCO from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, Truist Financial reduced their target price on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $103.30.

AGCO Price Performance

Shares of AGCO stock traded down $2.19 during trading on Friday, hitting $100.44. The stock had a trading volume of 744,012 shares, compared to its average volume of 895,233. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of -17.65, a P/E/G ratio of 1.80 and a beta of 1.20. AGCO Co. has a 12 month low of $73.79 and a 12 month high of $108.76. The business's 50-day moving average is $91.49 and its 200 day moving average is $95.13. 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 released its quarterly earnings results 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. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $2.32 earnings per share. As a group, sell-side analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.15%. AGCO's payout ratio is currently -14.87%.

Insider Activity at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction on 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 of the company's stock, valued at $1,845,408.40. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is owned by insiders.

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.