New York State Common Retirement Fund Lowers Position in AGCO Co. (NYSE:AGCO)

New York State Common Retirement Fund trimmed its position in shares of AGCO Co. (NYSE:AGCO) by 9.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 52,921 shares of the industrial products company’s stock after selling 5,420 shares during the quarter. New York State Common Retirement Fund’s holdings in AGCO were worth $6,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AGCO. Pacer Advisors Inc. increased its position in shares of AGCO by 7,297.1% during the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after acquiring an additional 713,142 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of AGCO by 24.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock valued at $359,852,000 after purchasing an additional 601,877 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of AGCO during the 3rd quarter worth $38,690,000. AQR Capital Management LLC boosted its holdings in shares of AGCO by 16.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock worth $121,678,000 after buying an additional 142,701 shares during the last quarter. Finally, Invesco Ltd. grew 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 valued at $44,333,000 after buying an additional 130,051 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Trading Up 1.0 %

Shares of AGCO stock opened at $111.79 on Friday. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.64 and a beta of 1.32. The company’s fifty day simple moving average is $116.61 and its two-hundred day simple moving average is $116.90. AGCO Co. has a 1 year low of $105.77 and a 1 year high of $140.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company posted $3.51 EPS. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, analysts anticipate that AGCO Co. will post 13.06 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 1.04%. AGCO’s dividend payout ratio is currently 7.42%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Oppenheimer reduced their price objective on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial lowered their target price on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.

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.