Mutual of America Capital Management LLC Cuts Stock Position in AGCO Co. (NYSE:AGCO)

Mutual of America Capital Management LLC reduced its position in AGCO Co. (NYSE:AGCO) by 4.2% in the second quarter, Holdings Channel.com reports. The firm owned 35,462 shares of the industrial products company’s stock after selling 1,569 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AGCO were worth $3,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AGCO. Janney Montgomery Scott LLC boosted its holdings in AGCO by 161.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,514 shares of the industrial products company’s stock valued at $669,000 after acquiring an additional 3,405 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in AGCO during the 4th quarter valued at about $214,000. UBS Group AG boosted its holdings in AGCO by 106.8% during the 4th quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after acquiring an additional 99,212 shares during the period. D.A. Davidson & CO. boosted its holdings in AGCO by 27.0% during the 4th quarter. D.A. Davidson & CO. now owns 2,342 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 498 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in AGCO by 176.1% during the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after acquiring an additional 13,952 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Stock Up 0.0 %

Shares of NYSE:AGCO opened at $94.76 on Tuesday. AGCO Co. has a 52-week low of $84.35 and a 52-week high of $130.26. The firm has a market capitalization of $7.07 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.83 and a beta of 1.25. The stock has a 50 day moving average price of $92.25 and a 200-day moving average price of $104.05. 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 (NYSE:AGCO) last posted its quarterly earnings results 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 company 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 business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.29 EPS. As a group, equities research analysts anticipate that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

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

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AGCO shares. Oppenheimer dropped their target price on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Citigroup assumed coverage on AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target for the company. JPMorgan Chase & Co. lowered their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and set a $118.00 price target (down previously from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group lowered their price target on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.91.

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.