Bank of Montreal Can Sells 649,346 Shares of AGCO Co. (NYSE:AGCO)

Bank of Montreal Can decreased its position in AGCO Co. (NYSE:AGCO) by 63.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 366,091 shares of the industrial products company’s stock after selling 649,346 shares during the period. Bank of Montreal Can owned about 0.49% of AGCO worth $35,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in AGCO by 146.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock valued at $10,538,000 after buying an additional 50,892 shares during the period. Comerica Bank increased its holdings in AGCO by 15.5% in the 1st quarter. Comerica Bank now owns 42,300 shares of the industrial products company’s stock worth $5,204,000 after buying an additional 5,688 shares in the last quarter. Swedbank AB bought a new stake in AGCO in the 1st quarter worth about $10,498,000. Burney Co. increased its holdings in AGCO by 1.5% in the 1st quarter. Burney Co. now owns 19,741 shares of the industrial products company’s stock worth $2,429,000 after buying an additional 289 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of AGCO by 377.0% during the 1st quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock valued at $2,177,000 after purchasing an additional 13,985 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO stock opened at $101.46 on Friday. The firm has a market cap of $7.57 billion, a P/E ratio of 44.89, a P/E/G ratio of 0.57 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock’s fifty day moving average price is $96.97 and its 200-day moving average price is $97.32.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $3.97 EPS. AGCO’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, equities research analysts expect that AGCO Co. will post 7.34 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio is presently 51.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AGCO shares. Citigroup upped their price target on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research note on Thursday. Truist Financial increased 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. BMO Capital Markets initiated coverage on AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target for the company. Finally, Oppenheimer reduced their target price on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $114.40.

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.