Sumitomo Mitsui Trust Holdings Inc. Cuts Position in AGCO Co. (NYSE:AGCO)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of AGCO Co. (NYSE:AGCOFree Report) by 28.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,249 shares of the industrial products company’s stock after selling 20,268 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.07% of AGCO worth $6,305,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AGCO by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,780,497 shares of the industrial products company’s stock worth $823,220,000 after buying an additional 24,940 shares during the period. Victory Capital Management Inc. lifted its holdings in AGCO by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock valued at $371,586,000 after acquiring an additional 18,209 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in AGCO by 3,115.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock valued at $144,785,000 after acquiring an additional 1,155,440 shares during the period. Mackenzie Financial Corp lifted its holdings in AGCO by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock valued at $87,794,000 after acquiring an additional 22,687 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of AGCO by 7,297.1% in the fourth quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after buying an additional 713,142 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Trading Up 0.7 %

AGCO stock opened at $94.18 on Thursday. The stock has a market cap of $7.03 billion, a PE ratio of 6.37, a P/E/G ratio of 0.61 and a beta of 1.27. The stock has a 50-day moving average price of $104.95 and a 200 day moving average price of $113.10. AGCO Co. has a 52 week low of $92.75 and a 52 week high of $140.46. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCOGet Free Report) 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. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company earned $3.51 EPS. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. Equities research analysts predict that AGCO Co. will post 11.64 earnings per share for the current fiscal year.

AGCO Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup assumed coverage on AGCO in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price target for the company. Raymond James assumed coverage on AGCO in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Oppenheimer dropped their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Truist Financial dropped their price target on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, AGCO currently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Read Our Latest Research Report on AGCO

AGCO 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)

Receive News & Ratings for AGCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO and related companies with MarketBeat.com's FREE daily email newsletter.