AGCO Co. (NYSE:AGCO) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in shares of AGCO Co. (NYSE:AGCO) by 43.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 67,074 shares of the industrial products company’s stock after selling 50,776 shares during the period. Lazard Asset Management LLC owned about 0.09% of AGCO worth $8,250,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AGCO. LRI Investments LLC purchased a new position in shares of AGCO in the first quarter worth about $30,000. Quadrature Capital Ltd lifted its position in AGCO by 5.0% during the first quarter. Quadrature Capital Ltd now owns 14,712 shares of the industrial products company’s stock worth $1,810,000 after buying an additional 707 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of AGCO by 18.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 180,463 shares of the industrial products company’s stock worth $22,201,000 after acquiring an additional 27,958 shares during the last quarter. Rodgers Brothers Inc. acquired a new position in shares of AGCO during the 1st quarter valued at about $2,439,000. Finally, Advisors Asset Management Inc. raised its stake in AGCO by 18.3% during the first quarter. Advisors Asset Management Inc. now owns 106,696 shares of the industrial products company’s stock worth $13,126,000 after purchasing an additional 16,485 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AGCO. Oppenheimer cut their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial dropped their target price on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Barclays cut their price objective on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. lowered their target price on AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Finally, Raymond James assumed coverage on shares of AGCO in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AGCO presently has an average rating of “Hold” and a consensus target price of $126.63.

AGCO Price Performance

Shares of AGCO opened at $102.61 on Monday. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.71 and a beta of 1.27. The firm’s fifty day simple moving average is $101.58 and its 200-day simple moving average is $111.27. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. AGCO Co. has a twelve month low of $92.75 and a twelve month high of $136.42.

AGCO (NYSE:AGCO) last issued its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the company earned $3.51 EPS. Equities analysts forecast that AGCO Co. will post 10.95 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.13%. AGCO’s dividend payout ratio is currently 7.85%.

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.