Raymond James Financial Services Advisors Inc. Sells 5,795 Shares of AGCO Co. (NYSE:AGCO)

Raymond James Financial Services Advisors Inc. cut its stake in AGCO Co. (NYSE:AGCO) by 55.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,666 shares of the industrial products company’s stock after selling 5,795 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in AGCO were worth $566,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bragg Financial Advisors Inc raised its holdings in AGCO by 0.6% in the 4th quarter. Bragg Financial Advisors Inc now owns 13,340 shares of the industrial products company’s stock worth $1,850,000 after purchasing an additional 86 shares in the last quarter. Nkcfo LLC raised its holdings in AGCO by 20.5% in the 3rd quarter. Nkcfo LLC now owns 530 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 90 shares in the last quarter. PDT Partners LLC raised its holdings in AGCO by 3.1% in the 2nd quarter. PDT Partners LLC now owns 3,300 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 100 shares in the last quarter. Captrust Financial Advisors grew its position in shares of AGCO by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 3,164 shares of the industrial products company’s stock worth $439,000 after buying an additional 105 shares during the period. Finally, Howe & Rusling Inc. grew its position in shares of AGCO by 5.8% in the 1st quarter. Howe & Rusling Inc. now owns 2,095 shares of the industrial products company’s stock worth $283,000 after buying an additional 115 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Performance

Shares of AGCO stock opened at $116.73 on Friday. AGCO Co. has a one year low of $105.77 and a one year high of $140.46. The company’s 50-day moving average is $115.42 and its 200 day moving average is $117.12. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing the consensus estimate of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company posted $4.47 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts expect that AGCO Co. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AGCO shares. JPMorgan Chase & Co. upped their target price on shares of AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Oppenheimer upped their target price on shares of AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial started coverage on shares of AGCO in a research report on Thursday, March 14th. They issued a “buy” rating and a $142.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.50.

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.