Principal Financial Group Inc. Lowers Position in AGCO Corporation $AGCO

Principal Financial Group Inc. decreased its position in shares of AGCO Corporation (NYSE:AGCO) by 0.6% during the third quarter, Holdings Channel.com reports. The firm owned 737,140 shares of the industrial products company’s stock after selling 4,371 shares during the period. Principal Financial Group Inc.’s holdings in AGCO were worth $78,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AGCO. KLP Kapitalforvaltning AS grew its position in AGCO by 0.7% during the third quarter. KLP Kapitalforvaltning AS now owns 14,300 shares of the industrial products company’s stock valued at $1,531,000 after buying an additional 100 shares during the period. Quantum Portfolio Management LLC boosted its stake in shares of AGCO by 5.5% during the 2nd quarter. Quantum Portfolio Management LLC now owns 2,495 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 129 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AGCO by 8.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,818 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 146 shares during the period. Jones Financial Companies Lllp increased its stake in shares of AGCO by 29.7% in the 1st quarter. Jones Financial Companies Lllp now owns 650 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 149 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in AGCO by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,141 shares of the industrial products company’s stock worth $443,000 after purchasing an additional 156 shares during the period. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AGCO

In other AGCO 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 value of $26,070.00. Following the completion of the sale, the senior vice president owned 17,130 shares in the company, valued at approximately $1,786,316.40. This represents a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.90% of the company’s stock.

AGCO Trading Up 1.7%

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

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 13th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, February 13th. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. AGCO’s payout ratio is presently 23.06%.

Analyst Ratings Changes

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

AGCO Company Profile

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.