Voya Investment Management LLC Has $803,000 Position in AGCO Co. (NYSE:AGCO)

Voya Investment Management LLC lowered its stake in AGCO Co. (NYSE:AGCO - Free Report) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,590 shares of the industrial products company's stock after selling 3,117 shares during the period. Voya Investment Management LLC's holdings in AGCO were worth $803,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AGCO. Price T Rowe Associates Inc. MD grew its position in AGCO by 128.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock worth $608,026,000 after buying an additional 3,654,350 shares in the last quarter. Invesco Ltd. lifted 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 purchasing an additional 961,081 shares during the last quarter. Norges Bank acquired a new position in AGCO in the fourth quarter valued at about $57,321,000. Edge Capital Group LLC bought a new stake in AGCO during the 4th quarter worth approximately $39,269,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of AGCO by 83.6% during the fourth quarter. JPMorgan Chase & Co. now owns 630,098 shares of the industrial products company's stock worth $58,902,000 after purchasing an additional 286,958 shares during the last quarter. Institutional investors own 78.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AGCO shares. Morgan Stanley cut shares of AGCO from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $94.00 to $75.00 in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 15th. Truist Financial lowered their target price on shares of AGCO from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. UBS Group set a $106.00 price target on AGCO in a research report on Tuesday, April 22nd. Finally, Baird R W downgraded AGCO from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, AGCO presently has a consensus rating of "Hold" and a consensus target price of $101.80.

AGCO Stock Performance

AGCO opened at $94.40 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The business's 50-day simple moving average is $89.45 and its 200 day simple moving average is $94.72. The firm has a market capitalization of $7.04 billion, a PE ratio of -16.59, a PEG ratio of 1.80 and a beta of 1.20. AGCO Co. has a 52-week low of $73.79 and a 52-week high of $119.71.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, beating 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 firm posted $2.32 EPS. The firm's revenue for the quarter was down 30.0% compared to the same quarter last year. As a group, sell-side analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. AGCO's dividend payout ratio (DPR) 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.

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.