Robeco Institutional Asset Management B.V. Trims Stock Position in AGCO Co. (NYSE:AGCO)

Robeco Institutional Asset Management B.V. reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 87.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,781 shares of the industrial products company’s stock after selling 138,074 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in AGCO were worth $1,936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after buying an additional 784,617 shares during the period. Victory Capital Management Inc. grew its position in shares of AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock worth $362,152,000 after buying an additional 63,432 shares during the period. Dimensional Fund Advisors LP grew its position in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after buying an additional 335,092 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after buying an additional 391,591 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock worth $171,090,000 after buying an additional 605,509 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AGCO. Robert W. Baird reduced their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer dropped their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday. Barclays dropped their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. Finally, UBS Group dropped their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $114.40.

AGCO Price Performance

AGCO opened at $91.86 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The stock has a market capitalization of $6.86 billion, a P/E ratio of 40.65, a P/E/G ratio of 0.94 and a beta of 1.25. The company’s 50-day simple moving average is $95.69 and its two-hundred day simple moving average is $99.18. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. AGCO’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.97 EPS. As a group, analysts predict that AGCO Co. will post 7.48 EPS for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date 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.