The Manufacturers Life Insurance Company Sells 2,552 Shares of AGCO Co. (NYSE:AGCO)

The Manufacturers Life Insurance Company cut its position in AGCO Co. (NYSE:AGCO) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,030 shares of the industrial products company’s stock after selling 2,552 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of AGCO worth $9,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AGCO. Cim LLC bought a new position in AGCO during the 4th quarter worth $994,000. Sei Investments Co. raised its position in shares of AGCO by 28.6% during the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after acquiring an additional 14,201 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of AGCO by 30.0% in the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after acquiring an additional 7,171 shares during the period. Vanguard Group Inc. boosted its holdings in AGCO by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,780,497 shares of the industrial products company’s stock valued at $823,220,000 after acquiring an additional 24,940 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in AGCO by 575.9% during the 1st quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock valued at $5,125,000 after purchasing an additional 35,500 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AGCO news, Director Lange Bob De bought 1,420 shares of AGCO stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $87.91 per share, with a total value of $124,832.20. Following the completion of the acquisition, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Lange Bob De purchased 1,420 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $87.91 per share, with a total value of $124,832.20. Following the acquisition, the director now owns 7,007 shares of the company’s stock, valued at $615,985.37. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Arnold acquired 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $87.69 per share, with a total value of $157,842.00. Following the acquisition, the director now directly owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.60% of the stock is currently owned by insiders.

AGCO Stock Performance

Shares of AGCO stock opened at $97.47 on Friday. 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 firm has a fifty day simple moving average of $91.49 and a two-hundred day simple moving average of $103.08. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The firm has a market capitalization of $7.27 billion, a PE ratio of 6.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.25.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the firm earned $4.29 earnings per share. The company’s revenue was down 15.1% on a year-over-year basis. Analysts forecast that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, August 15th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AGCO shares. JPMorgan Chase & Co. dropped their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Citigroup assumed coverage on shares of AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target on the stock. BMO Capital Markets began 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. Truist Financial restated a “buy” rating and set a $118.00 target price (down previously from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. Finally, Oppenheimer lowered 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.