abrdn plc Has $8.61 Million Stock Position in AGCO Co. (NYSE:AGCO)

Posted by on Jul 23rd, 2023

abrdn plc reduced its holdings in shares of AGCO Co. (NYSE:AGCO – Free Report) by 27.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,657 shares of the industrial products company’s stock after selling 24,610 shares during the quarter. abrdn plc owned 0.09% of AGCO worth $8,606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of AGCO during the first quarter valued at about $4,340,000. SG Americas Securities LLC lifted its position in shares of AGCO by 169.8% during the first quarter. SG Americas Securities LLC now owns 8,237 shares of the industrial products company’s stock valued at $1,114,000 after purchasing an additional 5,184 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of AGCO by 214.3% during the first quarter. Handelsbanken Fonder AB now owns 440,000 shares of the industrial products company’s stock valued at $59,488,000 after purchasing an additional 300,000 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in shares of AGCO by 9.6% during the first quarter. Schechter Investment Advisors LLC now owns 10,210 shares of the industrial products company’s stock valued at $1,380,000 after purchasing an additional 898 shares in the last quarter. Finally, Capital Insight Partners LLC lifted its position in shares of AGCO by 4.2% during the first quarter. Capital Insight Partners LLC now owns 2,179 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 88 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

AGCO Stock Down 1.9 %

AGCO opened at $136.32 on Friday. AGCO Co. has a 12 month low of $93.53 and a 12 month high of $145.53. The company has a market cap of $10.21 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.88 and a beta of 1.37. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $126.45 and a 200 day moving average of $130.04.

AGCO (NYSE:AGCO – Get Free Report) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.87. AGCO had a net margin of 7.30% and a return on equity of 27.21%. The business had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the firm posted $2.39 EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, sell-side analysts expect that AGCO Co. will post 14.53 EPS for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a yield of 0.85%. AGCO’s payout ratio is 8.96%.

Analysts Set New Price Targets

AGCO has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of AGCO in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of AGCO from $140.00 to $137.00 and set a “hold” rating on the stock in a research report on Wednesday, April 12th. The Goldman Sachs Group lowered shares of AGCO from a “buy” rating to a “neutral” rating and dropped their price target for the company from $149.00 to $135.00 in a research report on Monday, April 3rd. Robert W. Baird raised their price target on shares of AGCO from $185.00 to $189.00 in a research report on Tuesday, May 2nd. Finally, Sanford C. Bernstein raised their price target on shares of AGCO from $122.00 to $135.00 in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, AGCO has an average rating of “Moderate Buy” and a consensus target price of $154.60.

AGCO Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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