Wedge Capital Management L L P NC Reduces Position in AGCO Co. (NYSE:AGCO)

Wedge Capital Management L L P NC lessened its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,090 shares of the industrial products company's stock after selling 13,426 shares during the period. Wedge Capital Management L L P NC owned approximately 0.14% of AGCO worth $9,821,000 at the end of the most recent reporting period.

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

AGCO Stock Performance

NYSE AGCO traded down $0.47 on Tuesday, hitting $102.63. 666,570 shares of the company traded hands, compared to its average volume of 892,271. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of -18.04, a P/E/G ratio of 1.80 and a beta of 1.24. 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 business's 50 day moving average price is $93.20 and its 200-day moving average price is $95.76. 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 released its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.38. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. AGCO's quarterly revenue was down 30.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.32 earnings per share. Equities analysts expect that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the business'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 directly owns 17,380 shares of the company's stock, valued at $1,845,408.40. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 16.60% of the company's stock.

Wall Street Analyst Weigh In

AGCO has been the subject of a number of research analyst reports. Citigroup reissued a "neutral" rating and issued a $110.00 target price on shares of AGCO in a report on Friday, May 30th. The Goldman Sachs Group increased their price objective 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. Wall Street Zen upgraded shares of AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. UBS Group set a $106.00 target price on shares of AGCO in a research report on Tuesday, April 22nd. Finally, Truist Financial cut their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, AGCO currently has an average rating of "Hold" and a consensus price target of $104.10.

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.