Grantham Mayo Van Otterloo & Co. LLC Trims Stake in AGCO Co. (NYSE:AGCO)

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of AGCO Co. (NYSE:AGCO) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 444,209 shares of the industrial products company’s stock after selling 92,406 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.60% of AGCO worth $41,525,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of AGCO during the fourth quarter valued at $3,144,000. Gateway Investment Advisers LLC acquired a new stake in shares of AGCO during the 4th quarter worth about $311,000. Olstein Capital Management L.P. grew its holdings in shares of AGCO by 20.8% during the fourth quarter. Olstein Capital Management L.P. now owns 14,500 shares of the industrial products company’s stock worth $1,355,000 after buying an additional 2,500 shares in the last quarter. M&T Bank Corp grew its holdings in shares of AGCO by 133.0% during the third quarter. M&T Bank Corp now owns 84,441 shares of the industrial products company’s stock worth $8,263,000 after buying an additional 48,198 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of AGCO by 2.0% in the third quarter. Royal London Asset Management Ltd. now owns 623,585 shares of the industrial products company’s stock valued at $61,024,000 after buying an additional 12,328 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

AGCO has been the subject of several recent analyst reports. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday. Oppenheimer upped their target price on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Robert W. Baird downgraded shares of AGCO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Finally, Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.60.

AGCO Trading Down 3.3 %

NYSE AGCO opened at $79.45 on Friday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -13.96, a PEG ratio of 1.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.63 and a current ratio of 1.34. AGCO Co. has a one year low of $73.79 and a one year high of $125.76. The company’s 50 day moving average price is $96.97 and its 200 day moving average price is $96.82.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. On average, sell-side analysts predict that AGCO Co. will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, February 14th. AGCO’s payout ratio is -20.39%.

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.