Allspring Global Investments Holdings LLC Trims Stake in AGCO Co. (NYSE:AGCO)

Allspring Global Investments Holdings LLC reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 80.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,743 shares of the industrial products company’s stock after selling 136,893 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AGCO were worth $3,302,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its position in AGCO by 28.6% during the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock valued at $7,853,000 after acquiring an additional 14,201 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in AGCO by 30.0% in the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock valued at $3,038,000 after purchasing an additional 7,171 shares during the period. Acadian Asset Management LLC grew its holdings in AGCO by 575.9% in the first quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock valued at $5,125,000 after purchasing an additional 35,500 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in AGCO by 146.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock valued at $10,538,000 after purchasing an additional 50,892 shares during the period. Finally, Cetera Investment Advisers grew its holdings in AGCO by 377.0% in the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock valued at $2,177,000 after purchasing an additional 13,985 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Stock Performance

NYSE AGCO opened at $100.22 on Wednesday. The stock’s fifty day moving average is $94.53 and its two-hundred day moving average is $100.40. The firm has a market capitalization of $7.48 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.91 and a beta of 1.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the firm posted $4.29 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. On average, research analysts anticipate that AGCO Co. will post 8 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. AGCO’s dividend payout ratio is currently 7.85%.

Insider Buying and Selling at AGCO

In other news, Director Michael C. Arnold acquired 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the acquisition, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lange Bob De purchased 1,420 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the acquisition, the director now directly owns 7,007 shares in the company, valued at $615,985.37. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael C. Arnold purchased 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the acquisition, the director now owns 20,465 shares in the company, valued at $1,794,575.85. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AGCO. Barclays dropped their price objective on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. UBS Group dropped their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird dropped their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Truist Financial lifted their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets began coverage on AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, AGCO presently has an average rating of “Hold” and an average target price of $117.80.

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.