California Public Employees Retirement System Sells 7,323 Shares of AGCO Co. (NYSE:AGCO)

California Public Employees Retirement System lessened its holdings in AGCO Co. (NYSE:AGCO) by 5.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 118,908 shares of the industrial products company’s stock after selling 7,323 shares during the period. California Public Employees Retirement System’s holdings in AGCO were worth $15,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ForthRight Wealth Management LLC increased its holdings in AGCO by 4.0% in the 2nd quarter. ForthRight Wealth Management LLC now owns 2,012 shares of the industrial products company’s stock valued at $264,000 after buying an additional 78 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of AGCO by 3.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 2,336 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 80 shares in the last quarter. Bragg Financial Advisors Inc boosted its stake in shares of AGCO by 0.6% in the 4th quarter. Bragg Financial Advisors Inc now owns 13,340 shares of the industrial products company’s stock valued at $1,850,000 after purchasing an additional 86 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in shares of AGCO by 1.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 6,854 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 94 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in shares of AGCO by 38.6% in the 2nd quarter. Raleigh Capital Management Inc. now owns 345 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.

AGCO Stock Performance

AGCO stock opened at $117.90 on Monday. The company has a current ratio of 1.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. AGCO Co. has a 1 year low of $109.81 and a 1 year high of $145.53. The company has a market cap of $8.83 billion, a PE ratio of 7.66, a PEG ratio of 1.36 and a beta of 1.40. The company’s 50-day moving average is $117.40 and its two-hundred day moving average is $123.46.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, October 31st. The industrial products company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.70. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a net margin of 7.96% and a return on equity of 29.50%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.18 EPS. Equities analysts anticipate that AGCO Co. will post 15.85 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.98%. AGCO’s dividend payout ratio (DPR) is presently 7.54%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AGCO shares. Oppenheimer reduced their target price on shares of AGCO from $158.00 to $153.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Bank of America reduced their target price on shares of AGCO from $149.00 to $131.00 in a research note on Wednesday, October 11th. Citigroup reduced their target price on shares of AGCO from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. StockNews.com began coverage on shares of AGCO in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus reduced their price target on shares of AGCO from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and an average price target of $151.00.

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.