Janus Henderson Group PLC Decreases Stake in AGCO Co. (NYSE:AGCO)

Janus Henderson Group PLC lessened its position in shares of AGCO Co. (NYSE:AGCO) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,326 shares of the industrial products company’s stock after selling 752 shares during the period. Janus Henderson Group PLC’s holdings in AGCO were worth $5,125,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cetera Advisors LLC acquired a new stake in shares of AGCO during the 1st quarter worth about $247,000. Wealth Enhancement Advisory Services LLC raised its holdings in AGCO by 36.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,757 shares of the industrial products company’s stock worth $661,000 after purchasing an additional 1,797 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of AGCO by 33.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,800 shares of the industrial products company’s stock worth $372,000 after buying an additional 953 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of AGCO by 2.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 121,384 shares of the industrial products company’s stock worth $11,881,000 after buying an additional 3,246 shares during the last quarter. Finally, Fiduciary Financial Group LLC acquired a new position in shares of AGCO in the 2nd quarter valued at $274,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AGCO shares. Oppenheimer cut their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group cut their target price on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research report on Wednesday. Truist Financial lifted their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their price objective on AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.18.

AGCO Stock Performance

NYSE:AGCO opened at $98.10 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The firm’s fifty day moving average price is $97.54 and its 200 day moving average price is $96.47. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company’s revenue was down 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.97 earnings per share. On average, sell-side analysts expect that AGCO Co. will post 7.36 EPS for the current year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. AGCO’s dividend payout ratio is currently 51.33%.

AGCO Company 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.