Lombard Odier Asset Management Europe Ltd Invests $1.47 Million in AGCO Co. (NYSE:AGCO)

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of AGCO Co. (NYSE:AGCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,037 shares of the industrial products company’s stock, valued at approximately $1,472,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AGCO. FinTrust Capital Advisors LLC boosted its stake in AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after buying an additional 117 shares in the last quarter. Manchester Capital Management LLC boosted its stake in 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 buying an additional 110 shares in the last quarter. LRI Investments LLC purchased a new stake in AGCO in the first quarter worth approximately $30,000. Blue Trust Inc. boosted 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 worth $34,000 after buying an additional 174 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

AGCO opened at $94.76 on Tuesday. The stock has a fifty day simple moving average of $92.25 and a two-hundred day simple moving average of $104.05. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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). The firm 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 for the quarter was down 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.29 EPS. Research analysts predict that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.29 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. AGCO’s dividend payout ratio (DPR) is 7.85%.

Insiders Place Their Bets

In related news, Director Michael C. Arnold bought 1,800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $87.69 per share, with a total value of $157,842.00. Following the completion of the purchase, the director now 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 is accessible through the SEC website. In related news, Director Michael C. Arnold bought 1,800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $87.69 per share, with a total value of $157,842.00. Following the completion of the purchase, the director now 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 is accessible through the SEC website. Also, Director Lange Bob De bought 1,420 shares of the business’s stock in a transaction dated 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 purchase, 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. 16.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. UBS Group lowered their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group lowered their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. 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 report on Wednesday, July 31st. Finally, BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective for the company. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.