AGCO Co. (NYSE:AGCO) Stake Trimmed by Rodgers Brothers Inc.

Rodgers Brothers Inc. cut its position in shares of AGCO Co. (NYSE:AGCO) by 50.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,750 shares of the industrial products company’s stock after selling 16,000 shares during the period. Rodgers Brothers Inc.’s holdings in AGCO were worth $1,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of AGCO in the 3rd quarter valued at approximately $29,000. Allworth Financial LP raised its stake in AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. lifted its holdings in shares of AGCO by 84.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of AGCO in the fourth quarter valued at $33,000. Finally, LRI Investments LLC boosted its position in shares of AGCO by 50.0% in the third quarter. LRI Investments LLC now owns 510 shares of the industrial products company’s stock worth $47,000 after buying an additional 170 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AGCO has been the subject of a number of research reports. Truist Financial raised their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley began coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price target for the company. Baird R W lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup lifted their target price on shares of AGCO from $95.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.60.

AGCO Stock Performance

NYSE:AGCO opened at $93.58 on Monday. The firm has a market capitalization of $6.98 billion, a PE ratio of -16.45, a PEG ratio of 1.80 and a beta of 1.24. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76. 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 firm’s fifty day simple moving average is $98.56 and its 200 day simple moving average is $97.00.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, February 14th. AGCO’s dividend payout ratio is currently -20.39%.

AGCO Profile

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.