AGF Management Ltd. Sells 11,525 Shares of AGCO Co. (NYSE:AGCO)

AGF Management Ltd. trimmed its position in shares of AGCO Co. (NYSE:AGCO) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,663 shares of the industrial products company’s stock after selling 11,525 shares during the quarter. AGF Management Ltd.’s holdings in AGCO were worth $17,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AGCO. FinTrust Capital Advisors LLC lifted its holdings in shares of AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after buying an additional 117 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of AGCO by 93.2% during the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after buying an additional 110 shares during the period. LRI Investments LLC bought a new position in shares of AGCO during the 1st quarter valued at $30,000. Blue Trust Inc. lifted its holdings in shares of AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after buying an additional 174 shares during the period. Finally, American National Bank bought a new position in shares of AGCO during the 4th quarter valued at $37,000. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AGCO shares. Barclays reduced their price objective 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. Citigroup started coverage on AGCO in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price objective for the company. UBS Group reduced their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Raymond James started coverage on AGCO in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, AGCO currently has an average rating of “Hold” and an average target price of $118.91.

Insider Transactions at AGCO

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

AGCO Trading Up 0.2 %

Shares of AGCO stock opened at $88.95 on Thursday. The firm has a market capitalization of $6.64 billion, a PE ratio of 6.02, a PEG ratio of 0.82 and a beta of 1.25. The stock has a fifty day simple moving average of $92.89 and a two-hundred day simple moving average of $105.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26.

AGCO (NYSE:AGCO) last issued its earnings results 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). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the firm posted $4.29 earnings per share. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, analysts predict that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.30%. AGCO’s dividend payout ratio (DPR) is 7.85%.

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.