Truist Financial Corp Sells 1,365 Shares of AGCO Co. (NYSE:AGCO)

Truist Financial Corp reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,613 shares of the industrial products company’s stock after selling 1,365 shares during the quarter. Truist Financial Corp’s holdings in AGCO were worth $1,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Chase Investment Counsel Corp acquired a new stake in shares of AGCO during the 2nd quarter worth about $822,000. Quarry LP grew its stake in AGCO by 294.9% during the second quarter. Quarry LP now owns 699 shares of the industrial products company’s stock worth $68,000 after buying an additional 522 shares during the last quarter. Creative Planning increased its holdings in shares of AGCO by 25.7% during the second quarter. Creative Planning now owns 7,157 shares of the industrial products company’s stock worth $701,000 after buying an additional 1,465 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of AGCO by 2.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 104,488 shares of the industrial products company’s stock valued at $10,227,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of AGCO by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 823,991 shares of the industrial products company’s stock worth $80,652,000 after acquiring an additional 89,763 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AGCO has been the subject of several research analyst reports. BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective for the company. StockNews.com downgraded shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup raised their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays reduced their target price on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 18th. Finally, Raymond James started coverage on shares of AGCO in a report on Friday, June 28th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $117.80.

Insider Activity at AGCO

In other AGCO news, Director Michael C. Arnold bought 1,800 shares of AGCO stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the acquisition, the director now owns 20,465 shares in the company, valued at approximately $1,794,575.85. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael C. Arnold bought 1,800 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the acquisition, the director now owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lange Bob De purchased 1,420 shares of AGCO stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $87.91 per share, with a total value of $124,832.20. Following the acquisition, the director now directly owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.60% of the stock is owned by corporate insiders.

AGCO Trading Up 1.7 %

NYSE:AGCO opened at $99.56 on Monday. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 0.91 and a beta of 1.25. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The business’s 50-day moving average price is $91.75 and its two-hundred day moving average price is $102.13. 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 released its quarterly earnings data 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). 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 the consensus estimate of $3.48 billion. During the same period in the previous year, the business earned $4.29 EPS. The firm’s revenue was down 15.1% compared to the same quarter last year. On average, equities analysts expect that AGCO Co. will post 8 earnings per share for the current year.

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.