Van ECK Associates Corp Sells 11,181 Shares of AGCO Co. (NYSE:AGCO)

Van ECK Associates Corp lessened its stake in AGCO Co. (NYSE:AGCO) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,412 shares of the industrial products company’s stock after selling 11,181 shares during the period. Van ECK Associates Corp owned about 0.23% of AGCO worth $20,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGCO. FinTrust Capital Advisors LLC bought a new position in AGCO during the 3rd quarter valued at approximately $26,000. Rakuten Securities Inc. bought a new position in AGCO during the 4th quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new position in AGCO during the 3rd quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in AGCO during the 3rd quarter valued at approximately $35,000. Finally, C M Bidwell & Associates Ltd. bought a new position in AGCO during the 3rd quarter valued at approximately $35,000. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

AGCO stock opened at $114.12 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.46 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.52 billion, a P/E ratio of 7.30, a PEG ratio of 0.67 and a beta of 1.31. The stock’s 50 day moving average is $116.38 and its 200 day moving average is $117.04. AGCO Co. has a twelve month low of $105.77 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $4.03 by ($0.25). The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.47 EPS. On average, equities research analysts predict that AGCO Co. will post 13.06 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.02%. AGCO’s payout ratio is currently 7.42%.

Wall Street Analyst Weigh In

A number of research firms have commented on AGCO. Oppenheimer upped their price target on AGCO from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Truist Financial started coverage on AGCO in a report on Thursday, March 14th. They set a “buy” rating and a $142.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, AGCO currently has an average rating of “Moderate Buy” and an average target price of $150.50.

AGCO 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.