Citigroup Inc. Trims Holdings in AGCO Co. (NYSE:AGCO)

Citigroup Inc. cut its position in AGCO Co. (NYSE:AGCO) by 18.2% during the third quarter, HoldingsChannel reports. The firm owned 58,557 shares of the industrial products company’s stock after selling 12,992 shares during the quarter. Citigroup Inc.’s holdings in AGCO were worth $5,730,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AGCO. Victory Capital Management Inc. boosted its stake in shares of AGCO by 1.7% during the second 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 increased its stake in shares of AGCO by 17.4% during 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 purchasing an additional 335,092 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after acquiring an additional 538,955 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after acquiring an additional 66,303 shares during the period. Finally, AQR Capital Management LLC raised its holdings in 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 valued at $171,090,000 after acquiring an additional 605,509 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Trading Down 0.2 %

Shares of NYSE:AGCO opened at $101.21 on Monday. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.55 billion, a PE ratio of 44.78, a P/E/G ratio of 0.57 and a beta of 1.25. The company’s 50-day moving average price is $97.22 and its 200 day moving average price is $96.96.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion for 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%. AGCO’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.97 EPS. Sell-side analysts anticipate that AGCO Co. will post 7.34 earnings per share for the current year.

AGCO Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AGCO shares. Citigroup boosted their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday. Truist Financial upped their price objective on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, BMO Capital Markets assumed coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $114.40.

AGCO Company 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.