Mackenzie Financial Corp Reduces Stock Position in AGCO Co. (NYSE:AGCO)

Mackenzie Financial Corp trimmed its holdings in AGCO Co. (NYSE:AGCO - Free Report) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 817,257 shares of the industrial products company's stock after selling 62,832 shares during the quarter. Mackenzie Financial Corp owned about 1.09% of AGCO worth $76,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its holdings in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company's stock valued at $212,000 after purchasing an additional 110 shares in the last quarter. Inspire Investing LLC grew its position in shares of 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 last quarter. O Shaughnessy Asset Management LLC grew its position in shares of AGCO by 2.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock worth $580,000 after acquiring an additional 144 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of AGCO by 2.3% during the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock worth $612,000 after acquiring an additional 145 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of AGCO by 0.8% during the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock worth $1,721,000 after acquiring an additional 150 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's 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 completion of the transaction, the senior vice president now owns 17,380 shares in the company, valued at $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 16.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group set a $106.00 target price on shares of AGCO in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Robert W. Baird lowered shares of AGCO from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Truist Financial lowered their target price on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group raised their target price on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $104.10.

AGCO Price Performance

AGCO stock traded down $2.49 during midday trading on Friday, reaching $99.03. The company's stock had a trading volume of 322,640 shares, compared to its average volume of 890,454. AGCO Co. has a fifty-two week low of $73.79 and a fifty-two week high of $108.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The stock's 50 day simple moving average is $92.04 and its 200 day simple moving average is $95.35. The firm has a market capitalization of $7.39 billion, a PE ratio of -17.39, a P/E/G ratio of 1.80 and a beta of 1.20.

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 for the quarter, beating analysts' consensus estimates of $0.03 by $0.38. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the business posted $2.32 earnings per share. The business's revenue for the quarter was down 30.0% on a year-over-year basis. On average, equities research analysts forecast that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

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 given 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 is Thursday, May 15th. AGCO's dividend 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.