AGCO Co. (NYSE:AGCO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of AGCO Co. (NYSE:AGCO) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 234,797 shares of the industrial products company’s stock after selling 16,894 shares during the period. Allspring Global Investments Holdings LLC owned 0.31% of AGCO worth $28,507,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Nordea Investment Management AB lifted its position in AGCO by 1.7% during the fourth quarter. Nordea Investment Management AB now owns 61,828 shares of the industrial products company’s stock worth $7,492,000 after buying an additional 1,036 shares during the period. Vanguard Group Inc. lifted its position in AGCO by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after buying an additional 32,583 shares during the period. Invesco Ltd. lifted its position in AGCO by 53.1% during the third quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after buying an additional 130,051 shares during the period. Schroder Investment Management Group lifted its position in AGCO by 45.7% during the third quarter. Schroder Investment Management Group now owns 147,467 shares of the industrial products company’s stock worth $17,442,000 after buying an additional 46,239 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in AGCO during the third quarter worth about $1,151,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $120.01 on Friday. The company has a market cap of $8.96 billion, a P/E ratio of 7.68, a PEG ratio of 0.70 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. AGCO Co. has a one year low of $105.77 and a one year high of $140.46. The business’s 50-day simple moving average is $115.63 and its 200 day simple moving average is $117.16.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing the consensus estimate of $4.03 by ($0.25). The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.47 earnings per share. On average, sell-side analysts forecast that AGCO Co. will post 13.08 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 0.97%. AGCO’s payout ratio is currently 7.42%.

Analyst Upgrades and Downgrades

AGCO has been the topic of several recent analyst reports. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Stifel Nicolaus cut their price objective on AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, December 19th. Truist Financial assumed coverage on AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, AGCO presently has an average rating of “Moderate Buy” and an average target price of $150.38.

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.