AGCO Co. (NYSE:AGCO) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in AGCO Co. (NYSE:AGCO) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,024 shares of the industrial products company’s stock after selling 595 shares during the period. MetLife Investment Management LLC’s holdings in AGCO were worth $3,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of AGCO by 29.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,713 shares of the industrial products company’s stock valued at $3,103,000 after acquiring an additional 7,124 shares during the period. Rock Point Advisors LLC lifted its position in shares of AGCO by 6.0% during the 3rd quarter. Rock Point Advisors LLC now owns 19,630 shares of the industrial products company’s stock valued at $1,921,000 after acquiring an additional 1,111 shares during the period. Brooklyn Investment Group acquired a new stake in shares of AGCO during the 3rd quarter valued at approximately $29,000. The Manufacturers Life Insurance Company lifted its position in shares of AGCO by 3.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 95,874 shares of the industrial products company’s stock valued at $9,383,000 after acquiring an additional 2,844 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in shares of AGCO during the 3rd quarter valued at approximately $479,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of research reports. Oppenheimer reduced their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of AGCO in a research report on Tuesday. They set an “equal weight” rating and a $101.00 price target for the company. The Goldman Sachs Group reduced their price target 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. BMO Capital Markets began coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. Finally, Truist Financial raised their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.18.

AGCO Stock Down 0.9 %

AGCO stock opened at $100.61 on Wednesday. The stock has a market capitalization of $7.51 billion, a P/E ratio of 44.52, a PEG ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a one year low of $84.35 and a one year high of $130.26. The company has a 50 day moving average price of $97.44 and a two-hundred day moving average price of $96.81.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40). The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.97 earnings per share. As a group, sell-side analysts expect that AGCO Co. will post 7.34 EPS for the current year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.15%. AGCO’s dividend payout ratio is presently 51.33%.

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.