1832 Asset Management L.P. Has $5.61 Million Stock Holdings in AGCO Co. (NYSE:AGCO)

1832 Asset Management L.P. raised its stake in shares of AGCO Co. (NYSE:AGCO) by 238,650.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 57,300 shares of the industrial products company’s stock after purchasing an additional 57,276 shares during the period. 1832 Asset Management L.P.’s holdings in AGCO were worth $5,609,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FinTrust Capital Advisors LLC increased its stake in shares of 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 purchasing an additional 117 shares during the period. Manchester Capital Management LLC increased its position in shares of AGCO by 93.2% during the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new stake in AGCO in the 1st quarter valued at $30,000. Blue Trust Inc. raised its stake in shares of AGCO by 102.4% in 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 in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on AGCO shares. Raymond James initiated coverage on shares of AGCO in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Robert W. Baird dropped their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Citigroup initiated coverage on AGCO in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 price target on the stock. The Goldman Sachs Group dropped their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $118.91.

Insider Buying and Selling at AGCO

In other AGCO news, 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 acquired at an average cost of $87.91 per share, with a total value of $124,832.20. Following the completion of the purchase, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael C. Arnold bought 1,800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the transaction, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 purchased at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the transaction, 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. Corporate insiders own 16.60% of the company’s stock.

AGCO Trading Up 1.7 %

Shares of NYSE AGCO opened at $96.33 on Wednesday. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. 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 50-day moving average of $92.15 and a two-hundred day moving average of $103.94. The company has a market cap of $7.19 billion, a PE ratio of 6.52, a P/E/G ratio of 0.83 and a beta of 1.25.

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 the consensus estimate of $2.90 by ($0.37). The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.29 EPS. As a group, equities analysts expect 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 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 1.20%. AGCO’s dividend payout ratio is currently 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.