Frank Rimerman Advisors LLC Cuts Stock Position in AGCO Co. (NYSE:AGCO)

Frank Rimerman Advisors LLC decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,366 shares of the industrial products company’s stock after selling 207 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in AGCO were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AGCO. Pacer Advisors Inc. boosted its holdings in shares of AGCO by 34.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,110,408 shares of the industrial products company’s stock worth $206,525,000 after purchasing an additional 538,955 shares during the period. State Street Corp lifted its position in AGCO by 4.3% in the third quarter. State Street Corp now owns 1,978,963 shares of the industrial products company’s stock worth $193,661,000 after buying an additional 80,846 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in AGCO by 3.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,857,505 shares of the industrial products company’s stock worth $181,775,000 after buying an additional 66,303 shares during the period. Geode Capital Management LLC increased its position in AGCO by 7.2% during the third quarter. Geode Capital Management LLC now owns 1,205,227 shares of the industrial products company’s stock valued at $121,121,000 after acquiring an additional 80,516 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of AGCO by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock valued at $66,536,000 after acquiring an additional 27,438 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

AGCO has been the subject of a number of recent analyst reports. Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. StockNews.com raised AGCO from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Citigroup raised their price target on AGCO from $95.00 to $98.00 and gave the stock a “neutral” rating in a research note on Monday. Oppenheimer upped their price objective on AGCO from $108.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on AGCO in a research report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 target price for the company. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AGCO presently has an average rating of “Hold” and a consensus price target of $104.60.

AGCO Stock Up 1.7 %

NYSE:AGCO opened at $95.43 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.34 and a quick ratio of 0.63. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $125.76. The company has a 50-day moving average of $98.54 and a 200 day moving average of $96.61. The firm has a market cap of $7.12 billion, a PE ratio of -16.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

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

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. AGCO’s dividend payout ratio is presently -20.39%.

AGCO Company 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.