Vest Financial LLC Reduces Stake in AGCO Co. (NYSE:AGCO)

Vest Financial LLC lessened its stake in AGCO Co. (NYSE:AGCO - Free Report) by 73.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,026 shares of the industrial products company's stock after selling 19,406 shares during the period. Vest Financial LLC's holdings in AGCO were worth $650,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AGCO. Price T Rowe Associates Inc. MD lifted its position in shares of AGCO by 128.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock valued at $608,026,000 after buying an additional 3,654,350 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AGCO by 9.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company's stock worth $278,951,000 after purchasing an additional 258,054 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AGCO by 534.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock worth $271,259,000 after purchasing an additional 2,444,615 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in AGCO by 1.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company's stock valued at $256,522,000 after acquiring an additional 39,966 shares during the period. Finally, Invesco Ltd. boosted its holdings in AGCO by 68.7% during the 4th quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock valued at $220,641,000 after acquiring an additional 961,081 shares during the period. Hedge funds and other institutional investors own 78.80% of the company's stock.

Insider Buying and Selling

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the company's stock in a transaction that occurred 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 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 filing with the SEC, which is available through this link. Insiders own 16.60% of the company's stock.

Wall Street Analyst Weigh In

AGCO has been the subject of several recent research reports. Truist Financial decreased 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. Morgan Stanley lifted their price target on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. Citigroup reaffirmed a "neutral" rating and issued a $110.00 target price on shares of AGCO in a report on Friday, May 30th. Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Baird R W downgraded shares of AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $104.10.

AGCO Price Performance

AGCO stock opened at $100.97 on Monday. The stock has a 50-day moving average price of $92.58 and a two-hundred day moving average price of $95.68. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $108.76. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company has a market cap of $7.53 billion, a PE ratio of -17.74, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO - Get Free Report) last issued its 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. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the business earned $2.32 earnings per share. The company's revenue was down 30.0% compared to the same quarter last year. As a group, research analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, May 15th. AGCO's payout ratio is -14.87%.

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.

Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Co. (NYSE:AGCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.