Advisors Asset Management Inc. Sells 14,918 Shares of AGCO Co. (NYSE:AGCO)

Advisors Asset Management Inc. reduced its position in AGCO Co. (NYSE:AGCO) by 15.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 82,966 shares of the industrial products company’s stock after selling 14,918 shares during the period. Advisors Asset Management Inc.’s holdings in AGCO were worth $8,119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of AGCO in the first quarter valued at about $30,000. Blue Trust Inc. raised its holdings in AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in AGCO by 132.9% in the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in AGCO by 50.2% in 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 in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Up 0.3 %

AGCO stock opened at $92.03 on Thursday. 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 Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock’s 50 day simple moving average is $96.11 and its two-hundred day simple moving average is $97.93. The firm has a market cap of $6.87 billion, a PE ratio of 40.70, a P/E/G ratio of 0.53 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). The business had revenue of $2.60 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $3.97 earnings per share. Analysts anticipate that AGCO Co. will post 7.32 earnings per share for the current year.

AGCO Announces Dividend

The firm 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s payout ratio is 51.33%.

Analyst Ratings Changes

A number of brokerages have commented on AGCO. UBS Group reduced their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group reduced their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Robert W. Baird reduced their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Citigroup boosted their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial boosted their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.40.

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.