AGCO Co. (NYSE:AGCO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in AGCO Co. (NYSE:AGCO) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 618,693 shares of the industrial products company’s stock after selling 7,675 shares during the period. Bank of New York Mellon Corp owned approximately 0.83% of AGCO worth $60,558,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AGCO. Raymond James Trust N.A. boosted its holdings in shares of AGCO by 2.9% in the second quarter. Raymond James Trust N.A. now owns 5,756 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 163 shares in the last quarter. Capital Insight Partners LLC boosted its holdings in AGCO by 2.6% in the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC increased its position in AGCO by 94.3% during the 2nd quarter. LRI Investments LLC now owns 340 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 165 shares during the period. SummerHaven Investment Management LLC raised its stake 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 buying an additional 143 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in shares of AGCO during the 2nd quarter worth approximately $2,462,000. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

AGCO Trading Up 0.6 %

Shares of AGCO stock opened at $91.02 on Friday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $132.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 1.09. The business has a 50 day moving average price of $94.19 and a 200 day moving average price of $106.20. The company has a market capitalization of $6.79 billion, a P/E ratio of 6.16, a P/E/G ratio of 0.86 and a beta of 1.27.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.90 by ($0.37). The company 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 firm’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.29 earnings per share. Sell-side analysts anticipate that AGCO Co. will post 7.89 EPS for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird dropped their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Raymond James started coverage on shares of AGCO in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial reiterated a “buy” rating and issued a $118.00 price objective (down previously from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, UBS Group reduced their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AGCO currently has an average rating of “Hold” and an average price target of $118.91.

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.