Palouse Capital Management Inc. Invests $127,000 in AGCO Co. (NYSE:AGCO)

Palouse Capital Management Inc. acquired a new stake in AGCO Co. (NYSE:AGCO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,298 shares of the industrial products company’s stock, valued at approximately $127,000.

Several other hedge funds also recently bought and sold shares of AGCO. FinTrust Capital Advisors LLC increased its stake in AGCO by 121.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 117 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in AGCO in the first quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 174 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Insider Activity at AGCO

In related news, Director Lange Bob De acquired 1,420 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the acquisition, the director now directly owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AGCO news, Director Michael C. Arnold bought 1,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the acquisition, the director now 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 accessible through this link. Also, Director Lange Bob De purchased 1,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought 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 owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer lowered their price objective on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets began coverage on AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective for the company. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. UBS Group dropped their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Finally, Truist Financial reiterated a “buy” rating and set a $118.00 price target (down from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. One 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, the company presently has an average rating of “Hold” and an average target price of $118.91.

AGCO Stock Performance

Shares of AGCO stock opened at $93.75 on Thursday. The company has a market capitalization of $7.00 billion, a P/E ratio of 6.34, a PEG ratio of 0.83 and a beta of 1.25. AGCO Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. The stock has a 50 day moving average price of $92.43 and a two-hundred day moving average price of $104.42.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share 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 return on equity of 21.17% and a net margin of 3.13%. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.29 EPS. Analysts expect that AGCO Co. will post 8 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, August 15th. AGCO’s payout ratio is 7.85%.

About AGCO

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.