AGCO Co. (NYSE:AGCO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in AGCO Co. (NYSE:AGCO) by 21.4% in the third quarter, Holdings Channel.com reports. The firm owned 343,140 shares of the industrial products company’s stock after selling 93,573 shares during the period. JPMorgan Chase & Co.’s holdings in AGCO were worth $33,580,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AGCO. First Horizon Advisors Inc. grew its holdings in 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 buying an additional 117 shares during the period. Oppenheimer & Co. Inc. grew its holdings in AGCO by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after purchasing an additional 126 shares during the period. Farther Finance Advisors LLC increased its position in 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 last quarter. Natixis Advisors LLC raised its stake in AGCO by 0.4% during the second quarter. Natixis Advisors LLC now owns 38,750 shares of the industrial products company’s stock worth $3,793,000 after purchasing an additional 145 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in shares of AGCO by 4.1% in the 3rd quarter. OLD National Bancorp IN now owns 3,880 shares of the industrial products company’s stock valued at $380,000 after purchasing an additional 152 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Trading Down 1.4 %

AGCO opened at $91.02 on Tuesday. The firm’s 50 day moving average is $95.71 and its 200-day moving average is $95.15. AGCO Co. has a 52-week low of $84.35 and a 52-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 firm has a market capitalization of $6.79 billion, a P/E ratio of 40.27, a P/E/G ratio of 0.56 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its quarterly 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 firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the firm earned $3.97 EPS. Analysts expect that AGCO Co. will post 7.36 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, November 15th. AGCO’s dividend payout ratio is currently 51.33%.

Analysts Set New Price Targets

AGCO has been the subject of a number of research analyst reports. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Truist Financial upped their price target on AGCO from $110.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer reduced their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. 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 research report on Wednesday, November 6th. Finally, Citigroup lifted their price target on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, AGCO presently has a consensus rating of “Hold” and an average price target of $108.10.

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.