Van ECK Associates Corp Purchases 5,359 Shares of AGCO Co. (NYSE:AGCO)

Van ECK Associates Corp boosted its position in shares of AGCO Co. (NYSE:AGCO) by 3.3% in the second quarter, Holdings Channel reports. The fund owned 170,096 shares of the industrial products company’s stock after purchasing an additional 5,359 shares during the quarter. Van ECK Associates Corp’s holdings in AGCO were worth $16,649,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AGCO. M&T Bank Corp raised its position in AGCO by 121.3% in the fourth quarter. M&T Bank Corp now owns 6,644 shares of the industrial products company’s stock worth $806,000 after acquiring an additional 3,642 shares during the period. Axxcess Wealth Management LLC purchased a new stake in AGCO in the fourth quarter worth about $220,000. Gallacher Capital Management LLC bought a new position in shares of AGCO in the fourth quarter worth about $409,000. Spire Wealth Management raised its stake in shares of AGCO by 6,533.1% in the fourth quarter. Spire Wealth Management now owns 47,825 shares of the industrial products company’s stock worth $5,627,000 after buying an additional 47,104 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of AGCO by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,325 shares of the industrial products company’s stock valued at $50,303,000 after buying an additional 14,231 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Trading Up 0.7 %

Shares of AGCO stock opened at $91.04 on Monday. The stock’s 50-day moving average price is $94.19 and its 200-day moving average price is $106.10. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $132.94. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 6.16, a price-to-earnings-growth ratio of 0.85 and a beta of 1.27. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last issued 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). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company earned $4.29 earnings per share. The firm’s revenue was down 15.1% on a year-over-year basis. Equities research analysts predict that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Wall Street Analyst Weigh In

AGCO has been the subject of several analyst reports. Robert W. Baird reduced their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Truist Financial restated a “buy” rating and set a $118.00 price objective (down from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. Citigroup started coverage on shares of AGCO in a research note on Wednesday, June 26th. They set a “neutral” rating and a $108.00 target price on the stock. The Goldman Sachs Group cut their price target 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, UBS Group lowered their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.91.

Insider Activity

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