IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stock Holdings in AGCO Co. (NYSE:AGCO)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,157 shares of the industrial products company’s stock after selling 2,569 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in AGCO were worth $1,697,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Howe & Rusling Inc. increased its position in AGCO by 7.0% in the 4th quarter. Howe & Rusling Inc. now owns 3,693 shares of the industrial products company’s stock valued at $345,000 after acquiring an additional 242 shares during the period. JPMorgan Chase & Co. increased its stake in AGCO by 83.6% in the 4th quarter. JPMorgan Chase & Co. now owns 630,098 shares of the industrial products company’s stock valued at $58,902,000 after buying an additional 286,958 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AGCO by 173,056.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 51,947 shares of the industrial products company’s stock worth $4,795,000 after buying an additional 51,917 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in shares of AGCO by 20.6% in the 4th quarter. Zions Bancorporation N.A. now owns 11,732 shares of the industrial products company’s stock worth $1,097,000 after acquiring an additional 2,003 shares during the period. Finally, LPL Financial LLC increased its stake in shares of AGCO by 4.9% during the fourth quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company’s stock worth $2,135,000 after acquiring an additional 1,016 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Price Performance

Shares of NYSE:AGCO opened at $98.85 on Friday. 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 business’s fifty day moving average price is $98.72 and its two-hundred day moving average price is $96.86. The stock has a market cap of $7.37 billion, a PE ratio of -17.37, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. AGCO Co. has a one year low of $84.35 and a one year high of $125.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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%. On average, analysts forecast that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, February 14th. AGCO’s payout ratio is -20.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley began coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective for the company. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Robert W. Baird cut AGCO from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $116.00 to $100.00 in a research report on Monday, March 3rd. Citigroup boosted their target price on shares of AGCO from $95.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, March 17th. Finally, Oppenheimer increased their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO presently has an average rating of “Hold” and an average price target of $104.60.

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.