AGCO Co. (NYSE:AGCO) Short Interest Update

AGCO Co. (NYSE:AGCO) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,380,000 shares, a decrease of 7.9% from the October 15th total of 3,670,000 shares. Based on an average trading volume of 773,700 shares, the short-interest ratio is currently 4.4 days. Currently, 5.5% of the shares of the company are sold short.

Institutional Trading of AGCO

A number of hedge funds have recently bought and sold shares of AGCO. Sei Investments Co. increased its holdings in shares of AGCO by 28.6% during the 1st quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after buying an additional 14,201 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of AGCO by 30.0% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after buying an additional 7,171 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of AGCO by 575.9% during the 1st quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock worth $5,125,000 after buying an additional 35,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AGCO by 146.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock worth $10,538,000 after buying an additional 50,892 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of AGCO by 377.0% during the 1st quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock worth $2,177,000 after buying an additional 13,985 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

AGCO stock traded up $0.74 during mid-day trading on Monday, reaching $94.44. The company’s stock had a trading volume of 923,563 shares, compared to its average volume of 782,726. The stock 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. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company’s 50 day moving average is $95.94 and its two-hundred day moving average is $98.18.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.97 EPS. Equities research analysts expect that AGCO will post 7.32 EPS for the current year.

AGCO Announces Dividend

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

Wall Street Analyst Weigh In

AGCO has been the topic of several recent research reports. Truist Financial upped their price target on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. BMO Capital Markets started coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target on the stock. The Goldman Sachs Group lowered their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup increased their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.40.

AGCO Company 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.