Raymond James Trust N.A. Grows Stock Position in AGCO Co. (NYSE:AGCO)

Raymond James Trust N.A. grew its holdings in AGCO Co. (NYSE:AGCO) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,756 shares of the industrial products company’s stock after purchasing an additional 163 shares during the period. Raymond James Trust N.A.’s holdings in AGCO were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AGCO. Capital Insight Partners LLC lifted its position in AGCO by 2.6% in the second quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of AGCO by 94.3% in the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 165 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of AGCO by 2.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 5,604 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 143 shares during the period. Lecap Asset Management Ltd. acquired a new stake in AGCO in the 2nd quarter valued at approximately $2,462,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in AGCO in the 2nd quarter valued at approximately $202,000. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AGCO shares. UBS Group lowered their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. BMO Capital Markets initiated coverage on AGCO in a report on Friday, August 9th. They set a “market perform” rating and a $96.00 target price for the company. Truist Financial reiterated a “buy” rating and set a $118.00 price target (down from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Barclays cut their target price on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $118.91.

Insider Activity at AGCO

In related news, Director Lange Bob De acquired 1,420 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $87.91 per share, with a total value of $124,832.20. Following the completion of the acquisition, the director now owns 7,007 shares in the company, valued at $615,985.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Michael C. Arnold bought 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $87.69 per share, with a total value of $157,842.00. Following the transaction, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lange Bob De purchased 1,420 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the purchase, the director now directly owns 7,007 shares in the company, valued at $615,985.37. The disclosure for this purchase can be found here. 16.60% of the stock is currently owned by corporate insiders.

AGCO Trading Up 0.1 %

Shares of NYSE:AGCO opened at $91.14 on Tuesday. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $132.94. The company’s 50 day moving average is $95.08 and its two-hundred day moving average is $106.78. The company has a market cap of $6.80 billion, a PE ratio of 6.17, a P/E/G ratio of 0.86 and a beta of 1.27. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.90 by ($0.37). The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period last year, the company earned $4.29 EPS. Equities analysts predict that AGCO Co. will post 7.89 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced 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. This represents a $1.16 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s payout ratio is 7.85%.

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.