Assenagon Asset Management S.A. Lowers Holdings in AGCO Co. (NYSE:AGCO)

Assenagon Asset Management S.A. trimmed its holdings in AGCO Co. (NYSE:AGCO) by 75.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,442 shares of the industrial products company’s stock after selling 37,353 shares during the period. Assenagon Asset Management S.A.’s holdings in AGCO were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in AGCO. FinTrust Capital Advisors LLC lifted its position 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 valued at $26,000 after acquiring an additional 117 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in shares of AGCO in the first quarter valued at about $30,000. Blue Trust Inc. lifted its position in shares of AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of AGCO by 69.0% in the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Trading Down 0.5 %

Shares of AGCO stock opened at $99.39 on Friday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $95.21 and its two-hundred day simple moving average is $100.26. The company has a market cap of $7.42 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company’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. Research analysts predict that AGCO Co. will post 7.87 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.17%. AGCO’s dividend payout ratio is 20.71%.

Analyst Upgrades and Downgrades

AGCO has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective on the stock. The Goldman Sachs Group decreased their target price on 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 decreased their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer decreased their target price on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Citigroup boosted their target price on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AGCO presently has a consensus rating of “Hold” and an average price target of $117.80.

Insider Activity

In other AGCO news, Director Lange Bob De bought 1,420 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $87.91 per share, with a total value of $124,832.20. Following the completion of the purchase, the director now owns 7,007 shares in the company, valued at $615,985.37. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Michael C. Arnold acquired 1,800 shares of the company’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 completion of the purchase, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lange Bob De acquired 1,420 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased 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 of the company’s stock, valued at $615,985.37. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

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.