AGCO Co. (NYSE:AGCO) Stock Position Trimmed by Summit Global Investments

Summit Global Investments decreased its position in AGCO Co. (NYSE:AGCO) by 24.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,763 shares of the industrial products company’s stock after selling 4,713 shares during the period. Summit Global Investments’ holdings in AGCO were worth $1,792,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of AGCO by 356.3% in the third quarter. Commonwealth Equity Services LLC now owns 31,258 shares of the industrial products company’s stock worth $3,697,000 after purchasing an additional 24,408 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of AGCO by 23.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 104,597 shares of the industrial products company’s stock worth $12,372,000 after buying an additional 19,893 shares in the last quarter. Xponance Inc. lifted its stake in shares of AGCO by 19.1% in the 3rd quarter. Xponance Inc. now owns 9,017 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 1,448 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of AGCO in the third quarter valued at approximately $26,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of AGCO by 161.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,461 shares of the industrial products company’s stock valued at $1,237,000 after acquiring an additional 6,467 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

Shares of AGCO traded up $1.16 during trading hours on Friday, hitting $111.79. 1,097,316 shares of the company were exchanged, compared to its average volume of 712,588. 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 $8.34 billion, a PE ratio of 7.15, a PEG ratio of 0.64 and a beta of 1.32. The firm has a fifty day simple moving average of $116.61 and a 200-day simple moving average of $116.90. AGCO Co. has a one year low of $105.77 and a one year high of $140.46.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. AGCO’s revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.51 earnings per share. As a group, sell-side analysts predict that AGCO Co. will post 13.06 earnings per share for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is currently 7.42%.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of research analyst reports. Truist Financial cut their target price on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. lowered their target price on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Oppenheimer cut their price target on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

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.