James Investment Research Inc. trimmed its holdings in shares of AGCO Co. (NYSE:AGCO) by 65.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,985 shares of the industrial products company’s stock after selling 35,235 shares during the period. James Investment Research Inc.’s holdings in AGCO were worth $1,154,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of AGCO by 200.1% in the 2nd quarter. Sei Investments Co. now owns 110,305 shares of the industrial products company’s stock worth $6,698,000 after purchasing an additional 73,550 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in AGCO during the 2nd quarter valued at $2,283,000. FDx Advisors Inc. lifted its stake in AGCO by 21.7% during the 2nd quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 978 shares in the last quarter. AGF Investments Inc. lifted its stake in AGCO by 10.7% during the 2nd quarter. AGF Investments Inc. now owns 1,648,127 shares of the industrial products company’s stock valued at $100,074,000 after acquiring an additional 159,307 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in AGCO by 5.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 869,295 shares of the industrial products company’s stock valued at $52,784,000 after acquiring an additional 45,302 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Shares of NYSE AGCO opened at $57.14 on Friday. AGCO Co. has a 52 week low of $49.50 and a 52 week high of $75.95. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.96 and a beta of 0.78.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.60 annualized dividend and a yield of 1.05%. AGCO’s dividend payout ratio is currently 19.87%.
AGCO has been the topic of several recent analyst reports. TheStreet upgraded AGCO from a “c+” rating to a “b-” rating in a research note on Tuesday, July 31st. Deutsche Bank set a $79.00 price objective on AGCO and gave the company a “buy” rating in a research note on Wednesday, September 5th. ValuEngine cut AGCO from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Credit Suisse Group dropped their price objective on AGCO from $68.00 to $63.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley dropped their price objective on AGCO from $66.00 to $53.00 and set a “sell” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $69.85.
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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