PNC Financial Services Group Inc. Sells 4,569 Shares of AGCO Co. (NYSE:AGCO)

PNC Financial Services Group Inc. reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 33.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,057 shares of the industrial products company’s stock after selling 4,569 shares during the period. PNC Financial Services Group Inc.’s holdings in AGCO were worth $847,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in AGCO during the third quarter worth about $29,000. Allworth Financial LP boosted its position 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 worth $30,000 after acquiring an additional 220 shares in the last quarter. UMB Bank n.a. boosted its position 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 worth $32,000 after acquiring an additional 154 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in AGCO in the fourth quarter valued at approximately $33,000. Finally, LRI Investments LLC raised its position in 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 in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO stock opened at $95.43 on Tuesday. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of -16.77, a P/E/G ratio of 1.80 and a beta of 1.24. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $125.76. The company’s fifty day moving average is $98.54 and its 200 day moving average is $96.61. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. Sell-side analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.22%. AGCO’s payout ratio is -20.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AGCO. Morgan Stanley initiated coverage on AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. Truist Financial lifted their target price on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Oppenheimer increased their target price on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Finally, Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.60.

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.