Retirement Systems of Alabama Has $7.37 Million Position in AGCO Co. (NYSE:AGCO)

Retirement Systems of Alabama trimmed its holdings in shares of AGCO Co. (NYSE:AGCO) by 1.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,258 shares of the industrial products company’s stock after selling 1,185 shares during the quarter. Retirement Systems of Alabama owned 0.10% of AGCO worth $7,365,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in AGCO in the 3rd quarter valued at approximately $29,000. LRI Investments LLC boosted its holdings in AGCO by 94.3% during the second quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. grew its position in AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 174 shares in the last quarter. Venturi Wealth Management LLC increased its stake in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock valued at $36,000 after buying an additional 210 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after buying an additional 167 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Trading Up 0.5 %

Shares of AGCO stock opened at $96.87 on Wednesday. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The stock’s fifty day simple moving average is $97.54 and its 200 day simple moving average is $96.23. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.23 billion, a P/E ratio of 42.86, a P/E/G ratio of 0.56 and a beta of 1.24.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the company posted $3.97 earnings per share. The company’s revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that AGCO Co. will post 7.36 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid 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 was Friday, November 15th. AGCO’s dividend payout ratio (DPR) is 51.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AGCO shares. Truist Financial lifted their target price on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Citigroup lifted their target price on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Finally, Morgan Stanley started coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.18.

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.