Short Interest in AGCO Co. (NYSE:AGCO) Drops By 7.9%

AGCO Co. (NYSE:AGCO) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,380,000 shares, a decline of 7.9% from the October 15th total of 3,670,000 shares. Approximately 5.5% of the shares of the company are short sold. Based on an average trading volume of 773,700 shares, the days-to-cover ratio is currently 4.4 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Sei Investments Co. grew its stake in AGCO by 28.6% during the 1st quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock valued at $7,853,000 after acquiring an additional 14,201 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in AGCO by 30.0% during the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock valued at $3,038,000 after purchasing an additional 7,171 shares in the last quarter. Acadian Asset Management LLC grew its position in AGCO by 575.9% during the first quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock valued at $5,125,000 after purchasing an additional 35,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in AGCO by 146.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock valued at $10,538,000 after buying an additional 50,892 shares during the period. Finally, Cetera Investment Advisers lifted its position in AGCO by 377.0% in the 1st quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock worth $2,177,000 after buying an additional 13,985 shares in the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group cut their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. BMO Capital Markets started coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lowered their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, AGCO currently has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Trading Up 0.2 %

NYSE AGCO traded up $0.23 on Tuesday, hitting $94.58. 127,143 shares of the company were exchanged, compared to its average volume of 779,799. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The firm has a market capitalization of $7.06 billion, a P/E ratio of 41.79, a price-to-earnings-growth ratio of 0.53 and a beta of 1.25. The company’s 50 day moving average price is $95.94 and its 200-day moving average price is $98.18.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The firm’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.97 EPS. Analysts predict that AGCO will post 7.32 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. AGCO’s dividend payout ratio (DPR) is presently 51.33%.

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.