Sumitomo Mitsui Trust Group Inc. Decreases Position in AGCO Co. (NYSE:AGCO)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in AGCO Co. (NYSE:AGCO) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,631 shares of the industrial products company’s stock after selling 1,148 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in AGCO were worth $2,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new position in shares of AGCO in the third quarter valued at about $1,979,000. Venturi Wealth Management LLC increased its position in shares of AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 210 shares during the period. River Global Investors LLP increased its position in shares of AGCO by 13.6% in the third quarter. River Global Investors LLP now owns 16,890 shares of the industrial products company’s stock valued at $1,655,000 after acquiring an additional 2,020 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of AGCO by 150.1% in the third quarter. Crossmark Global Holdings Inc. now owns 16,591 shares of the industrial products company’s stock valued at $1,624,000 after acquiring an additional 9,956 shares during the period. Finally, Covestor Ltd increased its position in shares of AGCO by 711.4% in the third quarter. Covestor Ltd now owns 1,777 shares of the industrial products company’s stock valued at $174,000 after acquiring an additional 1,558 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Trading Up 0.8 %

Shares of NYSE AGCO opened at $94.44 on Tuesday. The firm’s 50 day moving average price is $95.94 and its 200-day moving average price is $98.18. The company has a market cap of $7.05 billion, a PE ratio of 41.74, a P/E/G ratio of 0.53 and a beta of 1.25. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53.

AGCO (NYSE:AGCO) last issued its 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 during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.97 EPS. On average, equities research analysts expect that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. AGCO’s dividend payout ratio is presently 51.33%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird cut their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Citigroup lifted their target price 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. JPMorgan Chase & Co. cut their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Truist Financial lifted their target price on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.40.

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.