PNC Financial Services Group Inc. Sells 18,185 Shares of AGCO Co. (NYSE:AGCO)

PNC Financial Services Group Inc. trimmed its position in AGCO Co. (NYSE:AGCO) by 57.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,626 shares of the industrial products company’s stock after selling 18,185 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AGCO were worth $1,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of AGCO by 146.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock valued at $10,538,000 after buying an additional 50,892 shares during the last quarter. Comerica Bank boosted its position in AGCO by 15.5% during the first quarter. Comerica Bank now owns 42,300 shares of the industrial products company’s stock worth $5,204,000 after purchasing an additional 5,688 shares during the period. Swedbank AB bought a new position in AGCO during the first quarter worth $10,498,000. Burney Co. increased its holdings in shares of AGCO by 1.5% in the first quarter. Burney Co. now owns 19,741 shares of the industrial products company’s stock valued at $2,429,000 after purchasing an additional 289 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of AGCO by 377.0% in the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock valued at $2,177,000 after purchasing an additional 13,985 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

NYSE:AGCO opened at $101.46 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 0.57 and a beta of 1.25. The stock has a fifty day moving average price of $96.82 and a 200-day moving average price of $97.29.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the company earned $3.97 EPS. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that AGCO Co. will post 7.34 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.14%. AGCO’s dividend payout ratio (DPR) is 51.33%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AGCO shares. Truist Financial lifted their target price on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets began coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. Oppenheimer dropped their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup boosted their price target on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, UBS Group lowered their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock 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.