Victory Capital Management Inc. Sells 172,739 Shares of AGCO Co. (NYSE:AGCO)

Victory Capital Management Inc. cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,527,225 shares of the industrial products company’s stock after selling 172,739 shares during the period. Victory Capital Management Inc.’s holdings in AGCO were worth $345,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LRI Investments LLC purchased a new position in shares of AGCO in the 1st quarter worth approximately $30,000. Blue Trust Inc. grew its stake 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 period. Venturi Wealth Management LLC boosted its holdings in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after buying an additional 210 shares during the period. First Horizon Advisors Inc. grew its position in shares of AGCO by 69.0% during the second 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake 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 worth $41,000 after purchasing an additional 139 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on AGCO shares. JPMorgan Chase & Co. dropped their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BMO Capital Markets assumed coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 target price for the company. Citigroup boosted their price objective on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Truist Financial upped their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, AGCO currently has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Stock Performance

Shares of AGCO traded down $0.04 during trading hours on Tuesday, hitting $91.74. The company had a trading volume of 206,982 shares, compared to its average volume of 772,103. The business has a fifty day moving average of $95.70 and a 200-day moving average of $98.86. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 0.95 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87.

AGCO (NYSE:AGCO) last issued 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 return on equity of 15.79% and a net margin of 1.35%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm posted $3.97 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities analysts anticipate that AGCO Co. will post 7.3 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s payout ratio is currently 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.