Intech Investment Management LLC Sells 1,660 Shares of AGCO Co. (NYSE:AGCO)

Intech Investment Management LLC reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 40.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,452 shares of the industrial products company’s stock after selling 1,660 shares during the period. Intech Investment Management LLC’s holdings in AGCO were worth $240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Forum Financial Management LP boosted its position in AGCO by 5.5% during the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock valued at $206,000 after buying an additional 109 shares during the period. Capital Insight Partners LLC boosted its holdings in AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 110 shares during the period. First Horizon Advisors Inc. grew its position in AGCO by 28.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 117 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in AGCO by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock worth $1,666,000 after purchasing an additional 126 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AGCO shares. The Goldman Sachs Group decreased their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Truist Financial boosted their price objective on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley assumed coverage on shares of AGCO in a report on Tuesday. They set an “equal weight” rating and a $101.00 target price for the company. Citigroup boosted their price target on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO presently has a consensus rating of “Hold” and an average price target of $113.18.

AGCO Price Performance

AGCO opened at $97.46 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 43.12, a price-to-earnings-growth ratio of 0.57 and a beta of 1.24. The stock has a fifty day simple moving average of $97.55 and a two-hundred day simple moving average of $96.84. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company posted $3.97 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Research analysts predict that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.19%. AGCO’s payout ratio is currently 51.33%.

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.