AGCO Co. (NYSE:AGCO) Shares Sold by AIA Group Ltd

by · The Markets Daily

AIA Group Ltd lessened its stake in AGCO Co. (NYSE:AGCO – Free Report) by 56.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,930 shares of the industrial products company’s stock after selling 5,089 shares during the quarter. AIA Group Ltd’s holdings in AGCO were worth $367,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in AGCO in the fourth quarter valued at approximately $57,321,000. Edge Capital Group LLC acquired a new position in shares of AGCO in the 4th quarter valued at $39,269,000. JPMorgan Chase & Co. boosted its holdings in AGCO by 83.6% during the fourth quarter. JPMorgan Chase & Co. now owns 630,098 shares of the industrial products company’s stock worth $58,902,000 after buying an additional 286,958 shares in the last quarter. Barclays PLC grew its position in AGCO by 386.8% during the third quarter. Barclays PLC now owns 249,209 shares of the industrial products company’s stock valued at $24,389,000 after buying an additional 198,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AGCO by 67.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,175 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 183,688 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

NYSE:AGCO opened at $92.69 on Wednesday. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $125.76. The company has a market cap of $6.91 billion, a P/E ratio of -16.29, a P/E/G ratio of 1.80 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $98.16 and its 200-day moving average price is $97.03.

AGCO (NYSE:AGCO – Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. On average, sell-side analysts forecast that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. AGCO’s dividend payout ratio is presently -20.39%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of AGCO from $95.00 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, March 17th. Oppenheimer raised their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Truist Financial upped their price objective on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, AGCO presently has an average rating of “Hold” and a consensus target price of $104.60.

Check Out Our Latest Research Report on AGCO

AGCO Company Profile

(Free Report)

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.

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