Swiss National Bank Sells 14,500 Shares of AGCO Co. (NYSE:AGCO)

Swiss National Bank reduced its stake in AGCO Co. (NYSE:AGCO) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,400 shares of the industrial products company’s stock after selling 14,500 shares during the period. Swiss National Bank’s holdings in AGCO were worth $15,225,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Strs Ohio boosted its holdings in shares of AGCO by 0.7% in the fourth quarter. Strs Ohio now owns 12,091 shares of the industrial products company’s stock valued at $1,467,000 after purchasing an additional 87 shares during the period. Nkcfo LLC raised its position in AGCO by 20.5% during the 3rd quarter. Nkcfo LLC now owns 530 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 90 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of AGCO by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 5,383 shares of the industrial products company’s stock worth $654,000 after buying an additional 91 shares during the period. State of Michigan Retirement System lifted its stake in AGCO by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 14,958 shares of the industrial products company’s stock worth $1,816,000 after acquiring an additional 100 shares during the period. Finally, Denali Advisors LLC lifted its position in shares of AGCO by 50.0% in the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 103 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Trading Up 2.1 %

AGCO stock opened at $116.31 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. AGCO Co. has a 52-week low of $105.77 and a 52-week high of $140.46. The company’s 50-day simple moving average is $117.18 and its 200-day simple moving average is $116.89. The firm has a market cap of $8.68 billion, a P/E ratio of 7.87, a PEG ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. AGCO’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.51 earnings per share. As a group, equities analysts forecast that AGCO Co. will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.00%. AGCO’s dividend payout ratio is currently 7.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AGCO shares. JPMorgan Chase & Co. decreased their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Oppenheimer reduced their price target on AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial decreased their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.83.

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.