Oak Thistle LLC Invests $357,000 in AGCO Co. (NYSE:AGCO)

Oak Thistle LLC bought a new position in AGCO Co. (NYSE:AGCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,643 shares of the industrial products company’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new stake in AGCO during the second quarter valued at $270,000. Arizona State Retirement System boosted its position in AGCO by 1.5% during the second quarter. Arizona State Retirement System now owns 17,757 shares of the industrial products company’s stock valued at $1,738,000 after purchasing an additional 265 shares during the last quarter. Victory Capital Management Inc. boosted its position in AGCO by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock valued at $362,152,000 after purchasing an additional 63,432 shares during the last quarter. Chase Investment Counsel Corp acquired a new stake in AGCO during the second quarter valued at $1,114,000. Finally, Impact Partnership Wealth LLC boosted its position in AGCO by 99,625.0% during the second quarter. Impact Partnership Wealth LLC now owns 3,989 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 3,985 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Citigroup started coverage on AGCO in a report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 target price on the stock. Raymond James started coverage on AGCO in a report on Friday, June 28th. They set a “market perform” rating on the stock. UBS Group cut their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group cut their target price on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $118.91.

AGCO Trading Up 1.7 %

AGCO stock opened at $89.09 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. The business’s 50-day simple moving average is $93.04 and its 200-day simple moving average is $105.28. The firm has a market capitalization of $6.65 billion, a PE ratio of 6.03, a PEG ratio of 0.82 and a beta of 1.25. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26.

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

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.30%. AGCO’s dividend payout ratio is 7.85%.

Insider Activity at AGCO

In other news, Director Lange Bob De purchased 1,420 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the purchase, the director now directly owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Lange Bob De acquired 1,420 shares of the firm’s stock in a transaction 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 completion of the acquisition, the director now owns 7,007 shares of the company’s stock, valued at $615,985.37. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael C. Arnold acquired 1,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought 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. 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.