Intech Investment Management LLC Purchases Shares of 4,112 AGCO Co. (NYSE:AGCO)

Intech Investment Management LLC acquired a new position in AGCO Co. (NYSE:AGCO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,112 shares of the industrial products company’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of AGCO by 11.6% during the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after acquiring an additional 784,617 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in AGCO by 28.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after purchasing an additional 391,591 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after buying an additional 335,092 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in AGCO in the first quarter valued at $23,569,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of AGCO by 25.2% in the 1st quarter. Principal Financial Group Inc. now owns 537,189 shares of the industrial products company’s stock worth $66,085,000 after purchasing an additional 108,213 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on AGCO shares. Raymond James assumed coverage on AGCO in a research report on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group lowered their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Oppenheimer reduced their target price on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Robert W. Baird decreased their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, AGCO currently has an average rating of “Hold” and a consensus price target of $118.91.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $98.36 on Friday. The company has a 50-day moving average price of $91.80 and a 200-day moving average price of $103.71. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.25. 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 Co. has a 12 month low of $84.35 and a 12 month high of $130.26.

AGCO (NYSE:AGCO) last posted its 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 business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the firm posted $4.29 earnings per share. AGCO’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, equities analysts anticipate that AGCO Co. will post 8 EPS for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a $0.29 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. AGCO’s dividend payout ratio is 7.85%.

Insider Activity

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 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 purchase, the director now directly owns 7,007 shares in the company, valued at $615,985.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael C. Arnold purchased 1,800 shares of AGCO stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost 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. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lange Bob De acquired 1,420 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $87.91 per share, with a total value of $124,832.20. Following the transaction, the director now directly owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

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.