T. Rowe Price Investment Management Inc. Has $62.38 Million Holdings in AGCO Co. (NYSE:AGCO)

T. Rowe Price Investment Management Inc. trimmed its stake in AGCO Co. (NYSE:AGCO) by 8.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 667,340 shares of the industrial products company’s stock after selling 63,375 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in AGCO were worth $62,383,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. GeoWealth Management LLC purchased a new stake in AGCO in the 4th quarter worth approximately $27,000. Allworth Financial LP increased its stake in shares of AGCO by 333.3% in the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 220 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of AGCO by 84.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in AGCO during the fourth quarter valued at $33,000. Finally, Jones Financial Companies Lllp grew its stake in AGCO by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 265 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AGCO. UBS Group set a $106.00 price target on AGCO in a research note on Tuesday. Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Truist Financial dropped their price target on shares of AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird lowered shares of AGCO from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, Oppenheimer lowered their target price on shares of AGCO from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $99.80.

AGCO Stock Performance

Shares of NYSE AGCO opened at $83.75 on Friday. AGCO Co. has a 12 month low of $73.79 and a 12 month high of $119.88. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a market cap of $6.25 billion, a P/E ratio of -14.72, a P/E/G ratio of 1.80 and a beta of 1.16. The business’s 50 day moving average is $90.98 and its two-hundred day moving average is $95.26.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, equities analysts expect that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, May 15th. AGCO’s payout ratio is presently -20.39%.

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.