Moran Wealth Management LLC Sells 31,745 Shares of AGCO Co. (NYSE:AGCO)

Moran Wealth Management LLC lowered its position in AGCO Co. (NYSE:AGCO) by 40.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 46,898 shares of the industrial products company’s stock after selling 31,745 shares during the period. Moran Wealth Management LLC owned about 0.06% of AGCO worth $4,589,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Great Valley Advisor Group Inc. boosted its holdings in AGCO by 30.0% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after buying an additional 7,171 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 purchasing an additional 50,892 shares in the last quarter. Cetera Investment Advisers grew its position in shares of AGCO by 377.0% during the first 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 in the last quarter. Stratos Wealth Advisors LLC grew its position in shares of AGCO by 42.3% during the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock valued at $1,670,000 after purchasing an additional 5,069 shares in the last quarter. Finally, Vanguard Group Inc. grew its position 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 purchasing an additional 784,617 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AGCO. Truist Financial lifted their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets began 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. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research report on Wednesday. UBS Group decreased their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup raised their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $114.40.

AGCO Stock Performance

AGCO stock opened at $92.03 on Thursday. 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 debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a market capitalization of $6.87 billion, a PE ratio of 40.72, a P/E/G ratio of 0.53 and a beta of 1.25.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the firm earned $3.97 EPS. As a group, equities analysts forecast that AGCO Co. will post 7.32 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is 51.33%.

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.