Baird Financial Group Inc. Sells 279 Shares of AGCO Co. (NYSE:AGCO)

Baird Financial Group Inc. decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 8,739 shares of the industrial products company’s stock after selling 279 shares during the quarter. Baird Financial Group Inc.’s holdings in AGCO were worth $817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AGCO. CIBC Asset Management Inc boosted its holdings in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 110 shares in the last quarter. Inspire Investing LLC boosted its holdings in AGCO by 2.8% in the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 118 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in AGCO by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 144 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in AGCO by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company’s stock worth $612,000 after acquiring an additional 145 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in AGCO by 0.8% in the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock worth $1,721,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Insider Transactions at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the transaction, the senior vice president now directly owns 17,380 shares of the company’s stock, valued at $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.90% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO opened at $104.67 on Thursday. The stock has a fifty day simple moving average of $90.26 and a two-hundred day simple moving average of $94.83. AGCO Co. has a 1-year low of $73.79 and a 1-year high of $119.23. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -18.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 earnings per share 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 business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company earned $2.32 earnings per share. AGCO’s revenue was down 30.0% compared to the same quarter last year. Analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 15th. AGCO’s payout ratio is currently -14.87%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Truist Financial lowered their price objective on AGCO from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. Morgan Stanley increased their price objective on AGCO from $75.00 to $84.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Citigroup increased their price objective on AGCO from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.70.

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.