Victory Capital Management Inc. Trims Stock Position in AGCO Co. (NYSE:AGCO)

Victory Capital Management Inc. lessened its stake in AGCO Co. (NYSE:AGCO) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,426,674 shares of the industrial products company’s stock after selling 100,551 shares during the period. Victory Capital Management Inc.’s holdings in AGCO were worth $320,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in AGCO by 58.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 836 shares of the industrial products company’s stock valued at $82,000 after buying an additional 308 shares in the last quarter. US Bancorp DE increased its stake in shares of AGCO by 29.3% in the 3rd quarter. US Bancorp DE now owns 1,623 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 368 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in AGCO by 50.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares during the period. Principal Financial Group Inc. boosted its position in AGCO by 28.2% during the third quarter. Principal Financial Group Inc. now owns 684,249 shares of the industrial products company’s stock worth $66,959,000 after purchasing an additional 150,656 shares in the last quarter. Finally, Olstein Capital Management L.P. boosted its position in AGCO by 100.0% during the third quarter. Olstein Capital Management L.P. now owns 12,000 shares of the industrial products company’s stock worth $1,174,000 after purchasing an additional 6,000 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. 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. Citigroup reduced their price objective on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley assumed coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Truist Financial upped their price target 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. Finally, The Goldman Sachs Group lowered their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.30.

AGCO Price Performance

AGCO stock opened at $89.01 on Wednesday. The business has a fifty day moving average of $98.00 and a two-hundred day moving average of $96.20. 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 stock has a market cap of $6.64 billion, a price-to-earnings ratio of -15.64, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $125.76.

AGCO (NYSE:AGCO) last posted 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 negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, research analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 dividend yield of 1.30%. AGCO’s payout ratio is -20.39%.

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.