Rhumbline Advisers Decreases Holdings in AGCO Co. (NYSE:AGCO)

Rhumbline Advisers cut its holdings in shares of AGCO Co. (NYSE:AGCO - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,849 shares of the industrial products company's stock after selling 4,708 shares during the period. Rhumbline Advisers owned about 0.23% of AGCO worth $15,723,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted 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 purchasing an additional 110 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of AGCO by 2.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock worth $580,000 after purchasing an additional 144 shares during the period. Neuberger Berman Group LLC lifted its position in shares of AGCO by 2.3% in the 4th quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock worth $612,000 after purchasing an additional 145 shares during the period. Arizona State Retirement System lifted its position in shares of AGCO by 0.8% in the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock worth $1,721,000 after purchasing an additional 150 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of AGCO by 4.4% in the 4th quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company's stock worth $340,000 after purchasing an additional 154 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AGCO. JPMorgan Chase & Co. boosted their price target on shares of AGCO from $110.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. UBS Group set a $106.00 price target on shares of AGCO in a research report on Tuesday, April 22nd. Citigroup reiterated a "neutral" rating and set a $110.00 target price on shares of AGCO in a research report on Friday, May 30th. Robert W. Baird downgraded shares of AGCO from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, AGCO presently has a consensus rating of "Hold" and a consensus target price of $104.10.

AGCO Stock Down 0.2%

AGCO stock traded down $0.19 during midday trading on Wednesday, reaching $102.46. 616,988 shares of the company's stock traded hands, compared to its average volume of 892,561. The company has a market cap of $7.64 billion, a price-to-earnings ratio of -18.01, a P/E/G ratio of 1.80 and a beta of 1.24. The firm's fifty day moving average price is $93.66 and its 200-day moving average price is $95.81. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $108.76.

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

AGCO Dividend Announcement

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 paid a $0.29 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. AGCO's payout ratio is -14.87%.

Insider Activity

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the sale, the senior vice president now owns 17,380 shares in the company, valued at $1,845,408.40. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

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.