AGCO Co. (NYSE:AGCO) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of AGCO Co. (NYSE:AGCO) by 3.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,802 shares of the industrial products company’s stock after purchasing an additional 485 shares during the quarter. State of Alaska Department of Revenue’s holdings in AGCO were worth $1,643,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AGCO. Nordea Investment Management AB grew its stake in AGCO by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 68,850 shares of the industrial products company’s stock valued at $8,426,000 after acquiring an additional 7,022 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Pegasus Asset Management Inc. lifted its position in AGCO by 0.9% during the first quarter. Pegasus Asset Management Inc. now owns 29,052 shares of the industrial products company’s stock worth $3,574,000 after buying an additional 249 shares in the last quarter. Buck Wealth Strategies LLC acquired a new position in AGCO during the first quarter worth $1,991,000. Finally, Texas Permanent School Fund Corp grew its holdings in AGCO by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 54,393 shares of the industrial products company’s stock valued at $6,691,000 after buying an additional 704 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Barclays dropped their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research note on Thursday, July 18th. Truist Financial lifted their price target on shares of AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Oppenheimer reduced 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, AGCO presently has a consensus rating of “Hold” and an average price target of $117.80.

Insiders Place Their Bets

In other AGCO news, Director Lange Bob De acquired 1,420 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the acquisition, the director now owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Michael C. Arnold acquired 1,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost 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 in the company, valued at $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 hyperlink. Also, Director Lange Bob De purchased 1,420 shares of the stock in a transaction on Monday, August 5th. The shares were purchased 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 in the company, valued at $615,985.37. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

AGCO Trading Down 0.5 %

AGCO opened at $99.39 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The firm has a market cap of $7.42 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.95 and a beta of 1.25. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The business has a fifty day simple moving average of $95.38 and a 200-day simple moving average of $100.13.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio is currently 20.71%.

About AGCO

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.