JPMorgan Chase & Co. Lowers Stock Position in AGCO Co. (NYSE:AGCO)

JPMorgan Chase & Co. decreased its holdings in AGCO Co. (NYSE:AGCO) by 21.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 343,140 shares of the industrial products company’s stock after selling 93,573 shares during the quarter. JPMorgan Chase & Co. owned about 0.46% of AGCO worth $33,580,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after purchasing an additional 335,092 shares during the last quarter. Pacer Advisors Inc. increased its stake in AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after buying an additional 538,955 shares during the period. State Street Corp raised its position in AGCO by 4.3% during the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after buying an additional 80,846 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after acquiring an additional 66,303 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after acquiring an additional 605,509 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO opened at $91.02 on Tuesday. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26. The stock has a market cap of $6.79 billion, a P/E ratio of 40.27, a PEG ratio of 0.56 and a beta of 1.25. 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 50-day moving average of $95.71 and a two-hundred day moving average of $95.15.

AGCO (NYSE:AGCO) last released 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). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the firm earned $3.97 earnings per share. As a group, research analysts predict that AGCO Co. will post 7.36 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.27%. AGCO’s dividend payout ratio is currently 51.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AGCO. Citigroup raised their price objective on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Morgan Stanley began coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. Oppenheimer cut their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.10.

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.