Moran Wealth Management LLC Cuts Stake in AGCO Co. (NYSE:AGCO)

Moran Wealth Management LLC reduced its position in AGCO Co. (NYSE:AGCO) by 40.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,898 shares of the industrial products company’s stock after selling 31,745 shares during the quarter. Moran Wealth Management LLC’s holdings in AGCO were worth $4,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AGCO. Vanguard Group Inc. grew its holdings in shares of AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after buying an additional 784,617 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of AGCO by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after buying an additional 63,432 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after buying an additional 335,092 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of AGCO by 28.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after buying an additional 391,591 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of AGCO by 53.0% during the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after buying an additional 605,509 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AGCO shares. Oppenheimer lowered their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird lowered their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. UBS Group lowered their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. BMO Capital Markets began coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, AGCO currently has an average rating of “Hold” and a consensus price target of $114.40.

AGCO Stock Up 0.3 %

AGCO opened at $92.03 on Thursday. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. 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 company has a 50-day moving average price of $96.11 and a 200 day moving average price of $97.93. The company has a market cap of $6.87 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 0.53 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the company posted $3.97 EPS. The firm’s revenue was down 24.8% on a year-over-year basis. Sell-side analysts expect that AGCO Co. will post 7.32 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.26%. AGCO’s payout ratio is currently 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.