Mirova US LLC Reduces Stock Position in AGCO Co. (NYSE:AGCO)

Mirova US LLC decreased its position in shares of AGCO Co. (NYSE:AGCO) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,194,810 shares of the industrial products company’s stock after selling 7,568 shares during the quarter. AGCO makes up about 2.2% of Mirova US LLC’s holdings, making the stock its 19th largest position. Mirova US LLC owned 1.60% of AGCO worth $145,062,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lecap Asset Management Ltd. purchased a new position in shares of AGCO during the fourth quarter worth about $1,082,000. Nordea Investment Management AB boosted its stake in shares of AGCO by 1.7% during the fourth quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after buying an additional 1,036 shares during the period. Vanguard Group Inc. boosted its stake in shares of AGCO by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after buying an additional 32,583 shares during the period. Invesco Ltd. boosted its stake in shares of AGCO by 53.1% during the third quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after buying an additional 130,051 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of AGCO by 45.7% during the third quarter. Schroder Investment Management Group now owns 147,467 shares of the industrial products company’s stock worth $17,442,000 after buying an additional 46,239 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AGCO shares. Stifel Nicolaus decreased their target price on shares of AGCO from $160.00 to $153.00 and set a “buy” rating for the company in a research note on Tuesday, December 19th. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their target price on shares of AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Truist Financial initiated coverage on AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 price objective on the stock. Finally, Oppenheimer increased their target price on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.50.

AGCO Price Performance

AGCO traded down $0.97 during trading on Wednesday, reaching $117.07. 458,649 shares of the stock were exchanged, compared to its average volume of 519,658. The business’s 50 day moving average price is $115.57 and its two-hundred day moving average price is $117.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 0.68 and a beta of 1.31. AGCO Co. has a 1 year low of $105.77 and a 1 year high of $140.46.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the firm earned $4.47 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that AGCO Co. will post 13.03 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were issued a $0.29 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.99%. AGCO’s dividend payout ratio (DPR) is 7.42%.

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.