LGT Group Foundation Sells 29,345 Shares of AGCO Co. (NYSE:AGCO)

LGT Group Foundation trimmed its holdings in AGCO Co. (NYSE:AGCO) by 61.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FinTrust Capital Advisors LLC purchased a new stake in AGCO in the third quarter worth $26,000. Rakuten Securities Inc. bought a new stake in AGCO during the 4th quarter valued at about $26,000. Legacy Financial Group LLC purchased a new stake in AGCO in the 3rd quarter valued at about $27,000. BluePath Capital Management LLC purchased a new stake in AGCO in the 3rd quarter valued at about $35,000. Finally, C M Bidwell & Associates Ltd. bought a new position in AGCO in the 3rd quarter worth about $35,000. 78.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AGCO. JPMorgan Chase & Co. lowered their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Truist Financial cut their price target on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer lowered their price objective on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO currently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

AGCO Trading Up 1.0 %

Shares of NYSE AGCO opened at $111.79 on Friday. AGCO Co. has a 1-year low of $105.77 and a 1-year high of $140.46. The business has a fifty day moving average price of $116.61 and a 200 day moving average price of $116.90. The stock has a market capitalization of $8.34 billion, a P/E ratio of 7.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the firm earned $3.51 earnings per share. AGCO’s revenue was down 12.1% compared to the same quarter last year. Equities research analysts expect that AGCO Co. will post 12 EPS for the current fiscal year.

AGCO Announces Dividend

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

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.