Strs Ohio Reduces Holdings in AGCO Corporation $AGCO

Strs Ohio reduced its position in AGCO Corporation (NYSE:AGCO) by 93.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,483 shares of the industrial products company’s stock after selling 19,659 shares during the quarter. Strs Ohio’s holdings in AGCO were worth $159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of AGCO during the third quarter worth $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of AGCO by 951.9% in the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the industrial products company’s stock worth $29,000 after buying an additional 257 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of AGCO by 3,725.0% in the third quarter. SJS Investment Consulting Inc. now owns 306 shares of the industrial products company’s stock worth $33,000 after buying an additional 298 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in AGCO by 109.2% during the first quarter. Geneos Wealth Management Inc. now owns 364 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 190 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in AGCO during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group decreased their target price on shares of AGCO from $119.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Oppenheimer upped their price target on AGCO from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Citigroup lifted their price objective on AGCO from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Truist Financial set a $134.00 price objective on AGCO in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. dropped their target price on AGCO from $127.00 to $123.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, AGCO has an average rating of “Hold” and a consensus target price of $111.80.

Insider Transactions at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $104.28, for a total transaction of $26,070.00. Following the sale, the senior vice president owned 17,130 shares of the company’s stock, valued at approximately $1,786,316.40. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is owned by company insiders.

AGCO Stock Up 1.7%

NYSE:AGCO opened at $116.57 on Wednesday. AGCO Corporation has a 52 week low of $73.79 and a 52 week high of $121.16. The stock’s fifty day moving average is $108.70 and its two-hundred day moving average is $108.85. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 10.39 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.58 and a debt-to-equity ratio of 0.61.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 13th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 13th. AGCO’s payout ratio is currently 23.06%.

About AGCO

AGCO Corporation is a global leader in the design, manufacture and distribution of agricultural machinery and precision farming solutions. Headquartered in Duluth, Georgia, the company markets a diverse portfolio of well-known brands, including Massey Ferguson, Fendt, Challenger, Valtra and GSI, serving farmers and producers in North America, South America, Europe, the Middle East, Africa and Asia Pacific. Through an extensive dealer network, AGCO provides equipment tailored to a broad range of crop and livestock operations.

The company’s product offerings span tractors, combine harvesters, hay and forage tools, application equipment, seeding and tillage implements, as well as grain storage and protein solutions.