Vest Financial LLC Increases Stake in AGCO Co. (NYSE:AGCO)

Vest Financial LLC increased its holdings in AGCO Co. (NYSE:AGCO) by 53.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,008 shares of the industrial products company’s stock after purchasing an additional 3,828 shares during the quarter. Vest Financial LLC’s holdings in AGCO were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AGCO. Charles Schwab Investment Management Inc. lifted its stake in shares of AGCO by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,325 shares of the industrial products company’s stock valued at $50,303,000 after acquiring an additional 14,231 shares during the last quarter. Principal Securities Inc. bought a new stake in AGCO in the fourth quarter valued at approximately $91,000. Jump Financial LLC boosted its stake in shares of AGCO by 351.8% during the fourth quarter. Jump Financial LLC now owns 8,417 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 6,554 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of AGCO in the fourth quarter worth approximately $341,000. Finally, Principal Financial Group Inc. increased its stake in shares of AGCO by 72.8% in the fourth quarter. Principal Financial Group Inc. now owns 428,976 shares of the industrial products company’s stock worth $52,082,000 after buying an additional 180,694 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AGCO

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

AGCO Price Performance

Shares of AGCO stock opened at $89.32 on Friday. The business’s fifty day moving average is $92.74 and its 200 day moving average is $105.03. 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 stock has a market cap of $6.67 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.82 and a beta of 1.25. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the company earned $4.29 earnings per share. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. Research analysts expect that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

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

Wall Street Analysts Forecast Growth

AGCO has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and set a $118.00 price target (down previously from $130.00) on shares of AGCO in a research report on Wednesday, July 31st. 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 research note on Thursday, July 11th. UBS Group lowered their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Oppenheimer cut their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $118.91.

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.