Healthcare of Ontario Pension Plan Trust Fund Trims Position in AGCO Co. (NYSE:AGCO)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in shares of AGCO Co. (NYSE:AGCO) by 96.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,494 shares of the industrial products company’s stock after selling 42,409 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in AGCO were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board increased its position in shares of AGCO by 30.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after purchasing an additional 7,539 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of AGCO during the 4th quarter worth about $1,082,000. UBS Group AG grew its position in AGCO by 106.8% in the 4th quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after acquiring an additional 99,212 shares in the last quarter. Corient Private Wealth LLC grew its position in AGCO by 176.1% in the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after acquiring an additional 13,952 shares in the last quarter. Finally, Cim LLC acquired a new position in AGCO in the 4th quarter valued at about $994,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Trading Up 1.6 %

Shares of AGCO stock opened at $103.47 on Friday. The business’s fifty day moving average price is $101.58 and its 200 day moving average price is $111.40. AGCO Co. has a 1-year low of $92.75 and a 1-year high of $136.42. The firm has a market capitalization of $7.72 billion, a PE ratio of 7.00, a P/E/G ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. AGCO’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.51 earnings per share. As a group, sell-side analysts forecast that AGCO Co. will post 11.08 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is 7.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AGCO. The Goldman Sachs Group dropped their target price on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Citigroup initiated coverage on AGCO in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 target price for the company. Raymond James initiated coverage on AGCO in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial decreased their price objective on AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $126.63.

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.