Davis Selected Advisers Trims Stock Holdings in AGCO Co. (NYSE:AGCO)

Davis Selected Advisers reduced its stake in AGCO Co. (NYSE:AGCO) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,991,357 shares of the industrial products company’s stock after selling 50,624 shares during the quarter. AGCO comprises approximately 1.1% of Davis Selected Advisers’ portfolio, making the stock its 22nd biggest holding. Davis Selected Advisers owned approximately 2.67% of AGCO worth $186,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings 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 worth $206,525,000 after buying an additional 538,955 shares in the last quarter. State Street Corp lifted its stake in shares of 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 purchasing an additional 80,846 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of AGCO by 3.7% during 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 during the period. Geode Capital Management LLC lifted its stake in shares of AGCO by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock worth $121,121,000 after purchasing an additional 80,516 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in AGCO by 4.0% in 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 buying an additional 27,438 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target for the company. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $116.00 to $100.00 in a research note on Monday, March 3rd. Oppenheimer increased their price target on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com raised shares of AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Truist Financial boosted their price target on AGCO from $109.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $104.30.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $102.94 on Friday. The business’s 50-day simple moving average is $98.11 and its 200 day simple moving average is $96.27. The company has a market cap of $7.68 billion, a P/E ratio of -18.09, a PEG ratio of 1.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO Co. has a one year low of $84.35 and a one year high of $125.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, sell-side analysts forecast that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.13%. AGCO’s payout ratio is currently -20.39%.

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.