American Century Companies Inc. Cuts Stock Position in AGCO Co. (NYSE:AGCO)

American Century Companies Inc. cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 34.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 99,410 shares of the industrial products company’s stock after selling 52,493 shares during the quarter. American Century Companies Inc.’s holdings in AGCO were worth $9,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. UBS Group AG increased its holdings in AGCO by 106.8% during the fourth quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock worth $23,328,000 after buying an additional 99,212 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of AGCO by 176.1% in the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock worth $2,656,000 after purchasing an additional 13,952 shares during the period. Cim LLC bought a new stake in shares of AGCO in the 4th quarter worth approximately $994,000. Sei Investments Co. lifted its stake in AGCO by 28.6% in the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock valued at $7,853,000 after purchasing an additional 14,201 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in AGCO by 30.0% during the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock valued at $3,038,000 after purchasing an additional 7,171 shares during the period. 78.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AGCO. Barclays lowered their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. The Goldman Sachs Group lowered their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird cut their price objective on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $118.91.

AGCO Trading Down 1.1 %

AGCO stock opened at $94.74 on Monday. 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 fifty-two week low of $84.35 and a fifty-two week high of $130.26. The stock has a market cap of $7.07 billion, a P/E ratio of 6.41, a PEG ratio of 0.83 and a beta of 1.25. The firm’s fifty day moving average price is $92.33 and its 200-day moving average price is $104.18.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. AGCO’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. Equities research analysts forecast that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.22%. AGCO’s payout ratio is presently 7.85%.

Insiders Place Their Bets

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