AGCO Co. (NYSE:AGCO) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its stake in AGCO Co. (NYSE:AGCO) by 8.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,139 shares of the industrial products company’s stock after selling 3,665 shares during the quarter. Amalgamated Bank owned approximately 0.05% of AGCO worth $4,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in AGCO by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,755,557 shares of the industrial products company’s stock worth $799,047,000 after acquiring an additional 32,583 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of 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 worth $371,586,000 after purchasing an additional 18,209 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of AGCO by 16.1% during the third quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock worth $121,678,000 after purchasing an additional 142,701 shares during the period. Boston Partners grew its position in AGCO by 3.5% during 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 in the last quarter. Finally, Mackenzie Financial Corp increased its stake in AGCO by 3.2% in the 4th quarter. Mackenzie Financial Corp now owns 723,119 shares of the industrial products company’s stock valued at $87,794,000 after buying an additional 22,687 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Performance

AGCO opened at $117.08 on Wednesday. The stock has a 50-day moving average of $116.96 and a 200-day moving average of $116.91. AGCO Co. has a 52-week low of $105.77 and a 52-week 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 company has a market cap of $8.74 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 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 company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company posted $3.51 earnings per share. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that AGCO Co. will post 12 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a dividend yield of 0.99%. AGCO’s dividend payout ratio is presently 7.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer lowered their price target on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Truist Financial dropped their target price on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price objective on AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.