AGCO Co. (NYSE:AGCO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of AGCO Co. (NYSE:AGCO) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 70,106 shares of the industrial products company’s stock after selling 3,158 shares during the quarter. Corebridge Financial Inc.’s holdings in AGCO were worth $6,554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC raised its holdings in shares of AGCO by 4.9% in the 4th quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company’s stock worth $2,135,000 after purchasing an additional 1,016 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in AGCO in the fourth quarter worth approximately $1,234,000. Sei Investments Co. increased its holdings in shares of AGCO by 31.9% in the fourth quarter. Sei Investments Co. now owns 178,175 shares of the industrial products company’s stock valued at $16,655,000 after buying an additional 43,119 shares in the last quarter. American Century Companies Inc. lifted its position in shares of AGCO by 11.4% during the 4th quarter. American Century Companies Inc. now owns 124,696 shares of the industrial products company’s stock valued at $11,657,000 after acquiring an additional 12,780 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of AGCO by 335.3% during the 4th quarter. Quantbot Technologies LP now owns 46,758 shares of the industrial products company’s stock worth $4,371,000 after acquiring an additional 36,017 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on AGCO shares. Robert W. Baird downgraded AGCO from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $116.00 to $100.00 in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Morgan Stanley initiated coverage on shares of AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Oppenheimer upped their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Baird R W downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, AGCO currently has a consensus rating of “Hold” and an average price target of $104.60.

AGCO Trading Down 5.3 %

NYSE AGCO opened at $93.58 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $125.76. The firm’s fifty day simple moving average is $98.56 and its 200-day simple moving average is $96.89. The company has a market capitalization of $6.98 billion, a PE ratio of -16.45, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last issued 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 positive return on equity of 13.40% and a negative net margin of 3.64%. As a group, sell-side analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

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.