AGCO Co. (NYSE:AGCO) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in AGCO Co. (NYSE:AGCO) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,925 shares of the industrial products company’s stock after selling 1,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AGCO were worth $2,419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AGCO. Ontario Teachers Pension Plan Board boosted its position in AGCO by 30.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after acquiring an additional 7,539 shares during the period. Lecap Asset Management Ltd. acquired a new stake in AGCO in the fourth quarter worth about $1,082,000. UBS Group AG lifted its position in AGCO by 106.8% in the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock worth $23,328,000 after purchasing an additional 99,212 shares during the period. Corient Private Wealth LLC boosted its stake in AGCO by 176.1% during the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after purchasing an additional 13,952 shares in the last quarter. Finally, Cim LLC acquired a new position in shares of AGCO during the 4th quarter valued at $994,000. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Down 1.4 %

AGCO stock opened at $100.94 on Friday. The company has a 50 day moving average of $110.62 and a two-hundred day moving average of $115.17. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.63 and a beta of 1.31. AGCO Co. has a 12-month low of $100.24 and a 12-month high of $140.46. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm earned $3.51 earnings per share. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities analysts anticipate that AGCO Co. will post 12.18 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a yield of 1%. AGCO’s dividend payout ratio is currently 7.85%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AGCO shares. Truist Financial decreased their target price on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Oppenheimer reduced their price target on shares of AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.83.

About AGCO

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.