Aigen Investment Management LP Sells 1,657 Shares of AGCO Co. (NYSE:AGCO)

Aigen Investment Management LP lessened its holdings in AGCO Co. (NYSE:AGCO) by 44.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,103 shares of the industrial products company’s stock after selling 1,657 shares during the quarter. Aigen Investment Management LP’s holdings in AGCO were worth $206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 784,617 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of AGCO by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after buying an additional 63,432 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AGCO by 17.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after buying an additional 335,092 shares during the period. Massachusetts Financial Services Co. MA grew its position in AGCO by 28.0% during the second 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 in the last quarter. Finally, AQR Capital Management LLC increased its stake in AGCO by 53.0% during 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 acquiring an additional 605,509 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Stock Up 1.8 %

Shares of NYSE AGCO opened at $93.70 on Friday. The company has a 50 day simple moving average of $95.94 and a 200 day simple moving average of $98.28. 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 firm has a market cap of $6.99 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.97 EPS. On average, research analysts forecast that AGCO Co. will post 7.32 EPS for the current year.

AGCO Dividend Announcement

The company 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 $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. AGCO’s dividend payout ratio (DPR) is currently 51.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AGCO shares. JPMorgan Chase & Co. cut their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Oppenheimer decreased their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. UBS Group dropped their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group dropped their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AGCO presently has a consensus rating of “Hold” and a consensus price target of $114.40.

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.