South Dakota Investment Council Cuts Stake in AGCO Co. (NYSE:AGCO)

South Dakota Investment Council cut its holdings in AGCO Co. (NYSE:AGCO) by 59.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,165 shares of the industrial products company’s stock after selling 7,500 shares during the period. South Dakota Investment Council’s holdings in AGCO were worth $483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc grew its position in shares of AGCO by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 110 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in AGCO by 28.6% during the third quarter. First Horizon Advisors Inc. now owns 526 shares of the industrial products company’s stock valued at $51,000 after buying an additional 117 shares during the last quarter. Inspire Investing LLC grew its holdings in AGCO by 2.8% during the 4th quarter. Inspire Investing LLC now owns 4,299 shares of the industrial products company’s stock valued at $402,000 after buying an additional 118 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in AGCO by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 17,022 shares of the industrial products company’s stock valued at $1,666,000 after buying an additional 126 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in AGCO by 50.2% in the 3rd 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 last quarter. 78.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AGCO. Morgan Stanley initiated coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price for the company. The Goldman Sachs Group dropped their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Oppenheimer increased their price target on shares of AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Truist Financial boosted their price objective on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $107.20.

AGCO Stock Performance

Shares of NYSE AGCO opened at $96.51 on Tuesday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76. The firm has a 50-day simple moving average of $97.77 and a two-hundred day simple moving average of $95.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is 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.