New York Life Investment Management LLC Cuts Holdings in AGCO Co. (NYSE:AGCO)

New York Life Investment Management LLC lessened its stake in AGCO Co. (NYSE:AGCO) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,548 shares of the industrial products company’s stock after selling 329 shares during the quarter. New York Life Investment Management LLC’s holdings in AGCO were worth $795,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in AGCO by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock valued at $799,047,000 after buying an additional 32,583 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in AGCO by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock valued at $371,586,000 after purchasing an additional 18,209 shares in the last quarter. AQR Capital Management LLC increased its stake in AGCO by 16.1% in the third quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock valued at $121,678,000 after purchasing an additional 142,701 shares during the last quarter. Boston Partners increased its stake in AGCO by 3.5% in the third quarter. Boston Partners now owns 731,554 shares of the industrial products company’s stock valued at $86,527,000 after purchasing an additional 24,815 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in AGCO by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock worth $87,794,000 after purchasing an additional 22,687 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Trading Down 2.7 %

NYSE AGCO opened at $113.93 on Thursday. The firm’s fifty day moving average is $117.05 and its two-hundred day moving average is $116.89. AGCO Co. has a one year low of $105.77 and a one year high of $140.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.99. The firm has a market cap of $8.50 billion, a PE ratio of 7.71, a P/E/G ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the firm posted $3.51 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. Analysts expect that AGCO Co. will post 12 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio is presently 7.85%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AGCO. Oppenheimer dropped their target price on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Truist Financial dropped their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. StockNews.com downgraded AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

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.