AEGON ASSET MANAGEMENT UK Plc Reduces Position in AGCO Co. (NYSE:AGCO)

AEGON ASSET MANAGEMENT UK Plc decreased its position in AGCO Co. (NYSE:AGCO) by 37.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 119,823 shares of the industrial products company’s stock after selling 70,400 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in AGCO were worth $11,194,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in AGCO by 34.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after purchasing an additional 538,955 shares during the last quarter. Barclays PLC increased its stake in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AGCO by 67.2% during 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 acquiring an additional 183,688 shares in the last quarter. Principal Financial Group Inc. lifted its stake in AGCO by 28.2% in the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock worth $66,959,000 after acquiring an additional 150,656 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in AGCO in the third quarter valued at $13,242,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer dropped their target price 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. Morgan Stanley initiated coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. The Goldman Sachs Group decreased their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO has a consensus rating of “Hold” and a consensus price target of $107.40.

AGCO Stock Up 0.1 %

AGCO stock opened at $105.17 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The stock has a market capitalization of $7.85 billion, a P/E ratio of 46.53, a P/E/G ratio of 1.03 and a beta of 1.25. The business has a fifty day moving average price of $96.69 and a 200-day moving average price of $95.25.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the business earned $3.97 EPS. The business’s revenue was down 24.8% compared to the same quarter last year. Equities analysts forecast that AGCO Co. will post 7.33 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.10%. AGCO’s dividend payout ratio is presently 51.33%.

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.