AGCO Co. (NYSE:AGCO) Short Interest Update

AGCO Co. (NYSE:AGCO) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,990,000 shares, an increase of 8.5% from the November 30th total of 4,600,000 shares. Currently, 8.1% of the shares of the company are sold short. Based on an average trading volume of 949,900 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Investors Weigh In On AGCO

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of AGCO in the third quarter valued at $29,000. Venturi Wealth Management LLC grew its holdings in shares of 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 acquiring an additional 210 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of AGCO by 50.2% during the third 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. LRI Investments LLC lifted its holdings in shares of AGCO by 50.0% during the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 170 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of AGCO by 28.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 117 shares during the period. 78.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AGCO shares. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. Oppenheimer lowered their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup raised their target price on AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. The Goldman Sachs Group lowered their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial lifted their price objective on shares of AGCO from $110.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.10.

AGCO Stock Up 0.4 %

AGCO stock opened at $93.48 on Thursday. The firm’s 50-day moving average is $96.26 and its two-hundred day moving average is $95.42. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 41.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share 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 company earned $3.97 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, analysts forecast that AGCO will post 7.36 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.24%. AGCO’s dividend 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.