Shayne & Jacobs LLC Reduces Holdings in AGCO Co. (NYSE:AGCO)

Shayne & Jacobs LLC reduced its position in AGCO Co. (NYSE:AGCO) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 21,560 shares of the industrial products company’s stock after selling 820 shares during the period. AGCO makes up about 0.5% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 27th biggest position. Shayne & Jacobs LLC’s holdings in AGCO were worth $2,015,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MMCAP International Inc. SPC raised its holdings in AGCO by 1.1% in the fourth quarter. MMCAP International Inc. SPC now owns 108,253 shares of the industrial products company’s stock valued at $10,119,000 after buying an additional 1,200 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of AGCO by 104.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 37,044 shares of the industrial products company’s stock valued at $3,463,000 after acquiring an additional 18,922 shares during the period. Amalgamated Bank boosted its position in AGCO by 1.1% during the 4th quarter. Amalgamated Bank now owns 29,510 shares of the industrial products company’s stock worth $2,759,000 after purchasing an additional 315 shares during the period. Bank of New York Mellon Corp boosted its position in AGCO by 23.6% during the 4th quarter. Bank of New York Mellon Corp now owns 699,435 shares of the industrial products company’s stock worth $65,383,000 after purchasing an additional 133,492 shares during the period. Finally, Edge Capital Group LLC acquired a new stake in AGCO in the 4th quarter valued at $39,269,000. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Up 1.4 %

AGCO stock opened at $97.85 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $97.79 and its 200 day simple moving average is $95.94. The stock has a market cap of $7.30 billion, a PE ratio of -17.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $125.76.

AGCO (NYSE:AGCO) last announced its quarterly earnings data 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 negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, sell-side analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio is currently -20.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AGCO shares. Truist Financial raised their price target on shares of AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley initiated coverage on shares of AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Oppenheimer upped their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group reduced their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $107.20.

AGCO Company 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.