Corebridge Financial Inc. Trims Holdings in AGCO Co. (NYSE:AGCO)

Corebridge Financial Inc. lessened its stake in AGCO Co. (NYSE:AGCO) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,106 shares of the industrial products company’s stock after selling 3,158 shares during the period. Corebridge Financial Inc. owned about 0.09% of AGCO worth $6,554,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AGCO. CIBC Asset Management Inc increased its position in shares of AGCO by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 110 shares during the last quarter. Inspire Investing LLC grew its stake in AGCO by 2.8% in the fourth quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 118 shares in the last quarter. Arizona State Retirement System raised its stake in AGCO by 0.8% during the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock valued at $1,721,000 after buying an additional 150 shares in the last quarter. UMB Bank n.a. lifted its holdings in AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of AGCO by 30.8% in the 4th quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 162 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Performance

Shares of NYSE AGCO opened at $93.58 on Friday. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $125.76. The company has a market cap of $6.98 billion, a PE ratio of -16.45, a P/E/G ratio of 1.80 and a beta of 1.24. The stock has a 50 day simple moving average of $98.56 and a 200-day simple moving average of $96.89. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) 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, equities research analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. AGCO’s dividend payout ratio (DPR) is -20.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AGCO. Truist Financial upped their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Robert W. Baird cut shares of AGCO from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $116.00 to $100.00 in a report on Monday, March 3rd. Citigroup lifted their price target on shares of AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a report on Monday, March 17th. Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley began coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.60.

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.