Nvest Financial LLC Has $506,000 Holdings in AGCO Co. (NYSE:AGCO)

Nvest Financial LLC reduced its holdings in AGCO Co. (NYSE:AGCO) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,117 shares of the industrial products company’s stock after selling 428 shares during the quarter. Nvest Financial LLC’s holdings in AGCO were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AGCO. Rakuten Securities Inc. acquired a new position in AGCO during the 4th quarter worth $26,000. Allworth Financial LP lifted its holdings in AGCO by 72.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock worth $35,000 after buying an additional 120 shares in the last quarter. American National Bank acquired a new position in AGCO during the 4th quarter worth $37,000. Denali Advisors LLC lifted its stake in shares of AGCO by 50.0% in the 4th quarter. Denali Advisors LLC now owns 309 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 103 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of AGCO in the 4th quarter valued at $45,000. 78.80% of the stock is owned by institutional investors and hedge funds.

AGCO Stock Up 0.5 %

Shares of NYSE AGCO traded up $0.52 during mid-day trading on Tuesday, hitting $96.10. The company had a trading volume of 856,256 shares, compared to its average volume of 742,437. The company has a market capitalization of $7.17 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. The firm has a 50-day simple moving average of $107.52 and a two-hundred day simple moving average of $114.14. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. AGCO Co. has a one year low of $95.03 and a one year high of $140.46.

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, beating the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company earned $3.51 EPS. AGCO’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, equities analysts expect that AGCO Co. will post 11.82 EPS for the current year.

AGCO Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.29 per share. This represents a yield of 1%. The ex-dividend date was Tuesday, May 14th. AGCO’s payout ratio is currently 7.85%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of analyst reports. Raymond James initiated coverage on AGCO in a research note on Friday. They issued a “market perform” rating on the stock. Oppenheimer cut their price target on AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Citigroup initiated coverage on AGCO in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price target on the stock. JPMorgan Chase & Co. cut their price target on AGCO from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Truist Financial cut their price target on AGCO from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.00.

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.