Connectus Wealth LLC Has $1.80 Million Stake in AGCO Co. (NYSE:AGCO)

Connectus Wealth LLC reduced its position in shares of AGCO Co. (NYSE:AGCOFree Report) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,796 shares of the industrial products company’s stock after selling 390 shares during the period. Connectus Wealth LLC’s holdings in AGCO were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AGCO. D.A. Davidson & CO. acquired a new position in shares of AGCO during the 3rd quarter worth approximately $218,000. Charles Schwab Investment Management Inc. increased its stake in AGCO by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,094 shares of the industrial products company’s stock worth $47,323,000 after acquiring an additional 4,674 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in AGCO by 1.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 7,283 shares of the industrial products company’s stock worth $861,000 after acquiring an additional 135 shares during the period. Pathstone Family Office LLC acquired a new position in AGCO in the 3rd quarter valued at $423,000. Finally, HighTower Advisors LLC lifted its position in shares of AGCO by 16.2% during the 3rd quarter. HighTower Advisors LLC now owns 11,602 shares of the industrial products company’s stock valued at $1,360,000 after acquiring an additional 1,619 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Performance

AGCO stock opened at $101.62 on Tuesday. The stock has a market cap of $7.58 billion, a PE ratio of 6.88, a P/E/G ratio of 0.63 and a beta of 1.32. 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 12-month low of $101.58 and a 12-month high of $140.46. The business’s 50-day moving average price is $113.74 and its two-hundred day moving average price is $115.84.

AGCO (NYSE:AGCOGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.51 EPS. As a group, analysts expect that AGCO Co. will post 12.18 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Analyst Ratings Changes

A number of brokerages recently commented on AGCO. Truist Financial decreased their price target on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. decreased their target price on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Oppenheimer cut their price target on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.

Get Our Latest Research Report on AGCO

AGCO Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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