Oppenheimer Asset Management Inc. Sells 1,741 Shares of AGCO Co. (NYSE:AGCO)

Oppenheimer Asset Management Inc. decreased its position in shares of AGCO Co. (NYSE:AGCO) by 11.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,450 shares of the industrial products company’s stock after selling 1,741 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AGCO were worth $1,257,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of AGCO in the third quarter valued at about $29,000. Allworth Financial LP raised its stake in AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. lifted its holdings in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in AGCO by 132.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 368 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 210 shares during the period. Finally, Farther Finance Advisors LLC boosted 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 purchasing an additional 139 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

NYSE:AGCO opened at $90.75 on Tuesday. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -15.95, a PEG ratio of 1.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. The business has a 50 day simple moving average of $98.06 and a 200-day simple moving average of $96.18. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $125.76.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. Equities analysts forecast that AGCO Co. will post 4.2 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 1.28%. AGCO’s payout ratio is -20.39%.

Analysts Set New Price Targets

Several research firms have recently commented on AGCO. Truist Financial boosted their target price on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group decreased their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $100.00 in a research report on Monday. Morgan Stanley began coverage on AGCO in a research report on Tuesday, December 3rd. They issued an “equal weight” rating and a $101.00 target price on the stock. Finally, Citigroup cut their price target on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.30.

AGCO 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.