Advisors Asset Management Inc. Sells 14,918 Shares of AGCO Co. (NYSE:AGCO)

Advisors Asset Management Inc. lowered its stake in shares of AGCO Co. (NYSE:AGCO) by 15.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,966 shares of the industrial products company’s stock after selling 14,918 shares during the period. Advisors Asset Management Inc. owned approximately 0.11% of AGCO worth $8,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new position in AGCO during the 1st quarter valued at about $30,000. Blue Trust Inc. increased its position in shares of AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 210 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Up 0.3 %

NYSE AGCO opened at $92.03 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $96.11 and a two-hundred day moving average of $97.93. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 0.53 and a beta of 1.25. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the business posted $3.97 earnings per share. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, analysts predict that AGCO Co. will post 7.32 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. AGCO’s dividend payout ratio (DPR) is 51.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AGCO shares. Robert W. Baird reduced their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Oppenheimer reduced their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets started coverage on shares of AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price target for the company. Truist Financial upped their price target on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.40.

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.