Empowered Funds LLC Reduces Holdings in AGCO Co. (NYSE:AGCO)

Empowered Funds LLC trimmed its stake in AGCO Co. (NYSE:AGCO) by 75.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,361 shares of the industrial products company’s stock after selling 73,562 shares during the period. Empowered Funds LLC’s holdings in AGCO were worth $2,286,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of AGCO in the 1st quarter valued at $30,000. Blue Trust Inc. grew its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 174 shares during the last quarter. Venturi Wealth Management LLC grew its position in AGCO by 132.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares during the last quarter. First Horizon Advisors Inc. grew its position in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 167 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in AGCO by 50.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 139 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Down 2.7 %

Shares of NYSE AGCO opened at $91.79 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The firm has a 50-day moving average price of $96.11 and a 200 day moving average price of $97.93. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 40.62, a price-to-earnings-growth ratio of 0.53 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business earned $3.97 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts anticipate that AGCO Co. will post 7.32 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, November 15th. AGCO’s payout ratio is currently 51.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AGCO. UBS Group lowered their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Citigroup raised their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer lowered their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, BMO Capital Markets began coverage on shares of AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.40.

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.