Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in AGCO Co. (NYSE:AGCO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 16.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,904 shares of the industrial products company’s stock after selling 2,655 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AGCO were worth $1,361,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AGCO. Massachusetts Financial Services Co. MA boosted its stake in AGCO by 3,115.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock valued at $144,785,000 after buying an additional 1,155,440 shares during the period. Vanguard Group Inc. lifted its stake in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after purchasing an additional 784,617 shares during the last quarter. Norges Bank bought a new stake in AGCO during the fourth quarter worth about $83,733,000. Ilex Capital Partners UK LLP bought a new stake in AGCO during the first quarter worth about $23,569,000. Finally, Principal Financial Group Inc. lifted its stake in AGCO by 72.8% during the fourth quarter. Principal Financial Group Inc. now owns 428,976 shares of the industrial products company’s stock worth $52,082,000 after purchasing an additional 180,694 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Up 0.7 %

Shares of NYSE:AGCO opened at $91.04 on Tuesday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $132.94. The company has a market cap of $6.80 billion, a PE ratio of 6.16, a P/E/G ratio of 0.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72. The stock’s 50-day moving average is $93.97 and its 200 day moving average is $105.96.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the firm earned $4.29 EPS. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. Sell-side analysts anticipate that AGCO Co. will post 8 EPS for the current year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.29 per share. The ex-dividend date 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 7.85%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group dropped their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Barclays dropped their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research note on Thursday, July 18th. BMO Capital Markets initiated coverage on AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 price target for the company. Citigroup initiated coverage on AGCO in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 target price for the company. Finally, Oppenheimer lowered their target price on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO presently has a consensus rating of “Hold” and an average price target of $118.91.

Insiders Place Their Bets

In other news, Director Lange Bob De bought 1,420 shares of AGCO stock in a transaction 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 acquisition, the director now owns 7,007 shares of the company’s stock, valued at $615,985.37. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Michael C. Arnold bought 1,800 shares of AGCO stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the acquisition, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lange Bob De bought 1,420 shares of AGCO stock in a transaction 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 acquisition, the director now directly owns 7,007 shares in the company, 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 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.