AGCO Co. (NYSE:AGCO) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its position in shares of AGCO Co. (NYSE:AGCO) by 2.9% in the third quarter, Holdings Channel.com reports. The firm owned 8,019 shares of the industrial products company’s stock after selling 239 shares during the period. HighTower Advisors LLC’s holdings in AGCO were worth $787,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 acquiring an additional 1,797 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in 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 purchasing an additional 953 shares during the last quarter. Blue Trust Inc. raised its position in shares of AGCO by 102.4% in the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 174 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of AGCO by 5.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,930 shares of the industrial products company’s stock valued at $287,000 after buying an additional 145 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the topic of several recent analyst reports. Morgan Stanley began coverage on shares of AGCO in a report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 price target on the stock. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday. Oppenheimer decreased their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup lifted their target price on AGCO from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, AGCO currently has a consensus rating of “Hold” and an average price target of $113.18.

AGCO Trading Down 2.8 %

Shares of NYSE AGCO opened at $94.13 on Thursday. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $97.57 and its 200 day simple moving average is $96.16.

AGCO (NYSE:AGCO) last posted its 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 company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.97 earnings per share. Equities research analysts expect that AGCO Co. will post 7.36 EPS for the current year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, November 15th. AGCO’s dividend payout ratio (DPR) is 51.33%.

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.