Rhumbline Advisers Sells 4,708 Shares of AGCO Co. (NYSE:AGCO)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AGCO. GeoWealth Management LLC acquired a new position in shares of AGCO during the fourth quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in AGCO by 333.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock worth $30,000 after acquiring an additional 220 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of AGCO in the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp increased its holdings in shares of AGCO by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock valued at $47,000 after buying an additional 265 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of AGCO by 30.8% during the fourth quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 162 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AGCO has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. The Goldman Sachs Group lifted their price objective on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Baird R W lowered AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Oppenheimer lowered their price target on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Truist Financial reduced their price objective 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 analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $104.10.

AGCO Stock Up 0.2%

Shares of AGCO stock traded up $0.18 during trading on Friday, hitting $100.97. 472,892 shares of the stock traded hands, compared to its average volume of 893,083. The company has a fifty day moving average price of $92.58 and a two-hundred day moving average price of $95.69. AGCO Co. has a twelve month low of $73.79 and a twelve month high of $108.76. The stock has a market cap of $7.53 billion, a P/E ratio of -17.74, a PEG ratio of 1.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.38. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same period in the previous year, the company earned $2.32 earnings per share. The company's revenue was down 30.0% compared to the same quarter last year. Equities research analysts predict that AGCO Co. will post 4.2 EPS for the current fiscal 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 issued a dividend of $0.29 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.16 annualized dividend and a yield of 1.15%. AGCO's dividend payout ratio (DPR) is currently -14.87%.

Insider Buying and Selling at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the business's stock in a transaction on 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 directly owns 17,380 shares in the company, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.60% of the company's stock.

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.