Handelsbanken Fonder AB Trims Holdings in AGCO Co. (NYSE:AGCO)

Handelsbanken Fonder AB trimmed its stake in shares of AGCO Co. (NYSE:AGCO) by 95.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,922 shares of the industrial products company’s stock after selling 315,875 shares during the quarter. Handelsbanken Fonder AB’s holdings in AGCO were worth $1,301,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of AGCO by 34.3% during the third quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock valued at $206,525,000 after buying an additional 538,955 shares during the period. State Street Corp increased its holdings in AGCO by 4.3% during the 3rd quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after acquiring an additional 80,846 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in AGCO by 3.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after purchasing an additional 66,303 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AGCO by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock valued at $121,121,000 after purchasing an additional 80,516 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of AGCO by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock valued at $66,536,000 after purchasing an additional 27,438 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AGCO. Truist Financial raised their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley started coverage on shares of AGCO in a research note on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. The Goldman Sachs Group dropped their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Oppenheimer increased their price target on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $107.20.

AGCO Price Performance

NYSE AGCO opened at $96.95 on Thursday. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of -17.04, a PEG ratio of 1.80 and a beta of 1.25. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $125.76. The company’s 50 day moving average is $97.85 and its two-hundred day moving average is $95.95. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. As a group, research analysts anticipate that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, February 14th. AGCO’s dividend payout ratio (DPR) is presently -20.39%.

AGCO Company 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.