New York State Common Retirement Fund Reduces Stake in AGCO Co. (NYSE:AGCO)

New York State Common Retirement Fund trimmed its stake in AGCO Co. (NYSE:AGCO) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,132 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund’s holdings in AGCO were worth $3,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of AGCO during the 3rd quarter valued at approximately $29,000. Allworth Financial LP lifted its stake in shares of AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after buying an additional 220 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of AGCO by 84.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after buying an additional 139 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AGCO shares. Citigroup dropped their price target on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target on the stock. Truist Financial upped their target price on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $107.20.

AGCO Stock Performance

AGCO stock opened at $97.04 on Friday. The firm’s fifty day moving average price is $97.99 and its 200-day moving average price is $95.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. The stock has a market cap of $7.24 billion, a P/E ratio of -17.05, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $125.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, equities research analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is currently -20.39%.

AGCO 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.