Truist Financial Corp Cuts Position in AGCO Co. (NYSE:AGCO)

Truist Financial Corp reduced its holdings in shares of AGCO Co. (NYSE:AGCO) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,901 shares of the industrial products company’s stock after selling 948 shares during the quarter. Truist Financial Corp’s holdings in AGCO were worth $739,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AGCO. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AGCO by 58.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 836 shares of the industrial products company’s stock valued at $82,000 after buying an additional 308 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in AGCO by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,802 shares of the industrial products company’s stock worth $1,643,000 after acquiring an additional 485 shares during the period. US Bancorp DE grew its position in AGCO by 29.3% in the third quarter. US Bancorp DE now owns 1,623 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 368 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 139 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of AGCO during the third quarter worth $5,536,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Price Performance

Shares of NYSE AGCO opened at $97.04 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of -17.05, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $125.76. The business has a 50 day simple moving average of $98.06 and a 200-day simple moving average of $96.11.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, equities research analysts expect that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is -20.39%.

Analyst Ratings Changes

A number of research firms recently weighed in on AGCO. Citigroup lowered their price target on shares of AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial raised their target price on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Oppenheimer boosted their price target on AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley started coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $107.20.

About AGCO

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.