HighTower Advisors LLC Decreases Stake in AGCO Co. (NYSE:AGCO)

HighTower Advisors LLC lessened its stake in AGCO Co. (NYSE:AGCO) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,019 shares of the industrial products company’s stock after selling 239 shares during the quarter. HighTower Advisors LLC’s holdings in AGCO were worth $787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in shares of AGCO during the 3rd quarter valued at approximately $2,424,000. ARGA Investment Management LP raised its holdings in AGCO by 71.9% during the third quarter. ARGA Investment Management LP now owns 15,891 shares of the industrial products company’s stock worth $1,555,000 after purchasing an additional 6,646 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in AGCO during the third quarter worth $2,264,000. Verition Fund Management LLC grew its holdings in AGCO by 61.7% in the third quarter. Verition Fund Management LLC now owns 8,297 shares of the industrial products company’s stock valued at $812,000 after purchasing an additional 3,167 shares during the last quarter. Finally, Isthmus Partners LLC purchased a new position in shares of AGCO in the third quarter valued at $378,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO stock opened at $94.13 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. The stock’s 50-day moving average is $97.57 and its 200-day moving average is $96.16.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the firm earned $3.97 earnings per share. The company’s quarterly revenue was down 24.8% on a year-over-year basis. Equities analysts anticipate that AGCO Co. will post 7.36 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, November 15th. AGCO’s dividend payout ratio is presently 51.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Thursday. Morgan Stanley started coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. Oppenheimer reduced their target price on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup lifted their price target on shares of AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Finally, Truist Financial upped their price objective on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.18.

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.