Wells Fargo & Company MN Lowers Stock Position in AGCO Co. (NYSE:AGCO)

Wells Fargo & Company MN lessened its stake in shares of AGCO Co. (NYSE:AGCO) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,848 shares of the industrial products company’s stock after selling 30,091 shares during the quarter. Wells Fargo & Company MN owned 0.56% of AGCO worth $50,974,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Coldstream Capital Management Inc. boosted its stake in AGCO by 15.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,661 shares of the industrial products company’s stock worth $323,000 after buying an additional 354 shares during the period. UBS Group AG boosted its stake in shares of AGCO by 106.8% in the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after purchasing an additional 99,212 shares during the period. Norges Bank purchased a new position in shares of AGCO in the fourth quarter valued at approximately $83,733,000. ING Groep NV boosted its stake in shares of AGCO by 112.3% in the fourth quarter. ING Groep NV now owns 24,200 shares of the industrial products company’s stock valued at $2,938,000 after purchasing an additional 12,800 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of AGCO by 26.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 132,254 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 27,657 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Down 0.8 %

Shares of NYSE:AGCO opened at $106.56 on Friday. The firm’s 50 day moving average price is $116.92 and its 200 day moving average price is $116.68. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 0.66 and a beta of 1.32. AGCO Co. has a fifty-two week low of $105.77 and a fifty-two week high of $140.46. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last released 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. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company earned $3.51 earnings per share. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. As a group, equities research analysts predict that AGCO Co. will post 12.18 earnings per share for the current fiscal year.

AGCO Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a yield of 1%. AGCO’s payout ratio is currently 7.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AGCO. JPMorgan Chase & Co. lowered their price objective on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Truist Financial lowered their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Oppenheimer lowered their price objective on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

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.