Harbor Capital Advisors Inc. Sells 9,141 Shares of AGCO Co. (NYSE:AGCO)

Harbor Capital Advisors Inc. decreased its position in AGCO Co. (NYSE:AGCO) by 16.2% during the fourth quarter, HoldingsChannel reports. The firm owned 47,425 shares of the industrial products company’s stock after selling 9,141 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in AGCO were worth $4,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Caprock Group LLC acquired a new position in AGCO during the 2nd quarter worth $270,000. Texas Permanent School Fund Corp boosted its stake in AGCO by 4.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,043 shares of the industrial products company’s stock valued at $5,583,000 after purchasing an additional 2,650 shares during the period. Vest Financial LLC grew its holdings in AGCO by 53.3% in the 2nd quarter. Vest Financial LLC now owns 11,008 shares of the industrial products company’s stock valued at $1,077,000 after buying an additional 3,828 shares during the last quarter. Federated Hermes Inc. increased its position in AGCO by 14.4% in the 2nd quarter. Federated Hermes Inc. now owns 173,923 shares of the industrial products company’s stock worth $17,024,000 after buying an additional 21,866 shares during the period. Finally, SYM FINANCIAL Corp bought a new position in AGCO in the 2nd quarter worth approximately $213,000. Institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Citigroup increased their target price on shares of AGCO from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Oppenheimer lowered their price target on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Truist Financial raised their price objective on AGCO from $110.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, AGCO has an average rating of “Hold” and a consensus target price of $108.10.

AGCO Stock Performance

AGCO stock opened at $91.04 on Friday. The firm has a market capitalization of $6.80 billion, a P/E ratio of 40.28, a P/E/G ratio of 0.56 and a beta of 1.25. The stock has a fifty day moving average price of $95.13 and a two-hundred day moving average price of $95.02. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last announced 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 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 for the quarter was down 24.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.97 EPS. As a group, analysts anticipate that AGCO Co. will post 7.36 EPS for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, November 15th. AGCO’s payout ratio is currently 51.33%.

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.