AGCO Corporation (NYSE:AGCO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in shares of AGCO Corporation (NYSE:AGCO) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,658,772 shares of the industrial products company’s stock after selling 571,753 shares during the quarter. Vanguard Group Inc. owned about 8.93% of AGCO worth $616,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AGCO. GeoWealth Management LLC acquired a new stake in shares of AGCO during the 4th quarter worth approximately $27,000. Citizens National Bank Trust Department raised its position in shares of AGCO by 400.0% during the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Abound Wealth Management acquired a new stake in shares of AGCO during the 1st quarter worth approximately $56,000. UMB Bank n.a. raised its position in shares of AGCO by 140.7% during the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 474 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of AGCO by 66.9% during the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Up 3.9%

AGCO opened at $115.32 on Thursday. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. The stock has a market cap of $8.61 billion, a P/E ratio of 86.06, a P/E/G ratio of 1.74 and a beta of 1.21. The stock’s 50 day moving average price is $107.38 and its 200 day moving average price is $99.25.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%. The firm’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. As a group, research analysts predict that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. AGCO’s dividend payout ratio (DPR) is presently 86.57%.

AGCO declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 12.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AGCO. JPMorgan Chase & Co. increased their price target on AGCO from $130.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley increased their price target on AGCO from $75.00 to $84.00 and gave the stock an “underweight” rating in a research report on Monday, May 12th. Citigroup reiterated a “neutral” rating and set a $110.00 price target on shares of AGCO in a research report on Friday, May 30th. UBS Group restated a “neutral” rating and issued a $119.00 target price (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Finally, Oppenheimer raised their target price on AGCO from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $109.63.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the completion of the transaction, the senior vice president directly owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.60% of the company’s stock.

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.