LGT Group Foundation Decreases Holdings in AGCO Co. (NYSE:AGCO)

LGT Group Foundation lessened its stake in shares of AGCO Co. (NYSE:AGCO - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,541 shares of the industrial products company's stock after selling 29,345 shares during the quarter. LGT Group Foundation's holdings in AGCO were worth $2,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of AGCO by 7,297.1% in the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company's stock worth $87,769,000 after acquiring an additional 713,142 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of AGCO by 24.7% in the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company's stock worth $359,852,000 after acquiring an additional 601,877 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of AGCO in the third quarter worth about $38,690,000. AQR Capital Management LLC lifted its stake in shares of AGCO by 16.1% in the third quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company's stock worth $121,678,000 after acquiring an additional 142,701 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in AGCO by 53.1% in the third quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company's stock valued at $44,333,000 after buying an additional 130,051 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

Analysts Set New Price Targets

AGCO has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on AGCO from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Friday. Truist Financial lowered their price objective on AGCO from $142.00 to $137.00 and set a "buy" rating for the company in a report on Friday. Oppenheimer lowered their price objective on AGCO from $154.00 to $145.00 and set an "outperform" rating for the company in a report on Friday. Finally, StockNews.com lowered AGCO from a "buy" rating to a "hold" rating in a report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, AGCO has a consensus rating of "Moderate Buy" and a consensus target price of $141.83.

AGCO Stock Performance

Shares of NYSE:AGCO traded up $1.18 during trading on Friday, hitting $111.81. 1,097,646 shares of the company traded hands, compared to its average volume of 709,208. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 0.69 and a beta of 1.32. The business's fifty day moving average is $116.61 and its 200-day moving average is $116.88. AGCO Co. has a one year low of $105.77 and a one year high of $140.46. The company has a quick ratio of 0.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business's revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.51 earnings per share. As a group, equities analysts predict that AGCO Co. will post 12 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO's dividend payout ratio is currently 7.85%.

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.