AGCO Co. (NYSE:AGCO) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in AGCO Co. (NYSE:AGCO) by 28.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,791,202 shares of the industrial products company’s stock after buying an additional 391,591 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.40% of AGCO worth $175,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AGCO. Principal Securities Inc. acquired a new stake in shares of AGCO during the 4th quarter valued at approximately $91,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of AGCO during the fourth quarter worth $341,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AGCO by 10.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,769 shares of the industrial products company’s stock worth $450,000 after buying an additional 344 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of AGCO by 161.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,514 shares of the industrial products company’s stock valued at $669,000 after buying an additional 3,405 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of AGCO during the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of recent research reports. UBS Group cut their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Raymond James started coverage on AGCO in a research report on Friday, June 28th. They set a “market perform” rating for the company. Oppenheimer dropped 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. Barclays reduced their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. Finally, The Goldman Sachs Group cut their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.91.

Insiders Place Their Bets

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

AGCO Price Performance

Shares of NYSE:AGCO opened at $92.75 on Wednesday. The stock’s 50 day moving average price is $92.44 and its 200 day moving average price is $104.50. 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 has a market cap of $6.92 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 0.83 and a beta of 1.25. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share 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 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 business earned $4.29 EPS. Equities research analysts anticipate that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, August 15th. AGCO’s payout ratio is 7.85%.

AGCO Company 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.