Andrew H. Beck Sells 19,335 Shares of AGCO Co. (NYSE:AGCO) Stock

AGCO Co. (NYSE:AGCOGet Rating) CEO Andrew H. Beck sold 19,335 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $106.74, for a total value of $2,063,817.90. Following the sale, the chief executive officer now directly owns 88,002 shares in the company, valued at approximately $9,393,333.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AGCO Stock Performance

NYSE AGCO opened at $106.21 on Friday. The firm has a market capitalization of $7.92 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.94 and a beta of 1.38. AGCO Co. has a 1-year low of $88.55 and a 1-year high of $150.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.64. The business’s 50-day simple moving average is $106.75 and its 200-day simple moving average is $120.96.

AGCO (NYSE:AGCOGet Rating) last released its quarterly earnings data on Thursday, July 28th. The industrial products company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.26. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.92 billion. AGCO had a return on equity of 22.54% and a net margin of 6.89%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.88 EPS. Equities analysts predict that AGCO Co. will post 11.88 EPS for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. AGCO’s payout ratio is currently 9.10%.

Institutional Investors Weigh In On AGCO

Several hedge funds have recently modified their holdings of the stock. Meridian Wealth Management LLC purchased a new stake in AGCO during the 2nd quarter worth approximately $1,852,000. Humankind Investments LLC increased its holdings in AGCO by 21.1% during the 2nd quarter. Humankind Investments LLC now owns 5,619 shares of the industrial products company’s stock worth $555,000 after purchasing an additional 978 shares during the last quarter. TrinityPoint Wealth LLC purchased a new stake in AGCO during the 2nd quarter worth approximately $1,375,000. M&T Bank Corp increased its holdings in AGCO by 15.7% during the 2nd quarter. M&T Bank Corp now owns 2,934 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 398 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in AGCO by 73.6% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 6,653 shares of the industrial products company’s stock worth $657,000 after purchasing an additional 2,821 shares during the last quarter. 77.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AGCO. Credit Suisse Group set a $128.00 price objective on AGCO in a research note on Tuesday, July 19th. StockNews.com raised AGCO from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on AGCO from $141.00 to $129.00 and set a “hold” rating on the stock in a research note on Wednesday, July 13th. Citigroup decreased their price target on AGCO from $150.00 to $105.00 in a research note on Thursday, July 7th. Finally, Morgan Stanley decreased their price target on AGCO from $129.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.83.

AGCO Company Profile

(Get Rating)

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.

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