AGCO Corporation (NYSE:AGCO) Stock Holdings Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 27.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,308 shares of the industrial products company's stock after selling 6,023 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in AGCO were worth $1,510,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AGCO. GeoWealth Management LLC acquired a new position in AGCO during the 4th quarter worth $27,000. Cullen Frost Bankers Inc. acquired a new position in AGCO during the 4th quarter worth $33,000. Jones Financial Companies Lllp boosted its position in AGCO by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock worth $47,000 after acquiring an additional 265 shares during the period. Abound Wealth Management acquired a new position in AGCO during the 1st quarter worth $56,000. Finally, UMB Bank n.a. boosted its position in AGCO by 140.7% during the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock worth $75,000 after acquiring an additional 474 shares during the period. Institutional investors and hedge funds own 78.80% of the company's stock.

Insider Buying and Selling at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total transaction of $26,545.00. Following the transaction, the senior vice president owned 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 SEC, which can be accessed through the SEC website. Corporate insiders own 16.90% of the company's stock.

AGCO Trading Down 1.0%

Shares of AGCO stock traded down $1.10 on Monday, reaching $108.60. 604,773 shares of the company were exchanged, compared to its average volume of 885,646. The stock has a fifty day moving average price of $101.43 and a 200-day moving average price of $96.51. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of -13.92, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $111.69.

AGCO (NYSE:AGCO - Get Free Report) last announced its 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. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the firm earned $2.32 earnings per share. AGCO's revenue for the quarter was down 30.0% compared to the same quarter last year. On average, analysts expect that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. AGCO's dividend payout ratio is -14.87%.

Analyst Ratings Changes

A number of research firms have recently commented on AGCO. Citigroup reissued a "neutral" rating and issued a $110.00 price objective on shares of AGCO in a research note on Friday, May 30th. Truist Financial dropped their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Oppenheimer dropped their price objective on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on AGCO from $110.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group boosted their price objective on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, AGCO presently has a consensus rating of "Hold" and a consensus target price of $104.10.

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.