Oppenheimer Asset Management Inc. Sells 1,741 Shares of AGCO Co. (NYSE:AGCO)

Oppenheimer Asset Management Inc. decreased its holdings in AGCO Co. (NYSE:AGCO) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,450 shares of the industrial products company’s stock after selling 1,741 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AGCO were worth $1,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of AGCO in the third quarter worth about $29,000. Allworth Financial LP boosted its position in AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after buying an additional 220 shares during the period. UMB Bank n.a. grew its stake in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of AGCO by 132.9% during the third quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 210 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of AGCO by 50.2% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the period. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Down 6.4 %

NYSE AGCO opened at $90.75 on Tuesday. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $125.76. The company has a 50 day moving average price of $98.06 and a 200 day moving average price of $96.18. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.77 billion, a PE ratio of -15.95, a price-to-earnings-growth ratio of 1.80 and a beta of 1.25.

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

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, February 14th. AGCO’s dividend payout ratio is presently -20.39%.

Analyst Ratings Changes

Several brokerages recently issued reports on AGCO. Citigroup dropped their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial increased their price target on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Oppenheimer lifted their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group dropped their target price on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.30.

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.