KBC Group NV cut its position in AGCO Corporation (NYSE:AGCO – Free Report) by 62.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,501 shares of the industrial products company’s stock after selling 14,000 shares during the quarter. KBC Group NV’s holdings in AGCO were worth $985,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank raised its stake in AGCO by 0.3% during the 1st quarter. Swiss National Bank now owns 125,500 shares of the industrial products company’s stock worth $14,542,000 after buying an additional 400 shares during the period. California Public Employees Retirement System grew its stake in AGCO by 4.7% in the first quarter. California Public Employees Retirement System now owns 131,874 shares of the industrial products company’s stock valued at $15,280,000 after acquiring an additional 5,876 shares during the period. Assetmark Inc. increased its holdings in shares of AGCO by 2,576.9% during the first quarter. Assetmark Inc. now owns 1,392 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 1,340 shares in the last quarter. Barings LLC increased its holdings in shares of AGCO by 39.0% during the first quarter. Barings LLC now owns 24,662 shares of the industrial products company’s stock valued at $2,858,000 after acquiring an additional 6,925 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of AGCO by 671.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 80,974 shares of the industrial products company’s stock worth $9,534,000 after purchasing an additional 70,476 shares during the period. 78.80% of the stock is owned by institutional investors.
AGCO Price Performance
Shares of NYSE:AGCO opened at $121.25 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.78 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The stock’s fifty day simple moving average is $114.83 and its two-hundred day simple moving average is $118.38. AGCO Corporation has a 1-year low of $99.21 and a 1-year high of $143.78.
AGCO Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. AGCO’s dividend payout ratio is presently 11.57%.
Analyst Upgrades and Downgrades
AGCO has been the topic of a number of recent research reports. Weiss Ratings cut AGCO from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. UBS Group restated a “neutral” rating and set a $123.00 price objective on shares of AGCO in a report on Sunday, May 10th. Oppenheimer set a $134.00 price objective on shares of AGCO in a research note on Wednesday, May 6th. Truist Financial lifted their price objective on shares of AGCO from $152.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Morgan Stanley boosted their target price on shares of AGCO from $108.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $129.64.
Check Out Our Latest Analysis on AGCO
Insider Transactions at AGCO
In other AGCO news, major shareholder & Farm Equipment Ltd Tractors sold 422,590 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $123.28, for a total value of $52,096,895.20. Following the completion of the sale, the insider owned 3,149,820 shares in the company, valued at approximately $388,309,809.60. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.
AGCO Company Profile
AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.
The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.
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