Impact Partnership Wealth LLC Purchases New Position in AGCO Corporation (NYSE:AGCO)

Impact Partnership Wealth LLC purchased a new position in shares of AGCO Corporation (NYSE:AGCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,818 shares of the industrial products company's stock, valued at approximately $261,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGCO. HighTower Advisors LLC grew its stake in shares of AGCO by 4.2% in the fourth quarter. HighTower Advisors LLC now owns 8,359 shares of the industrial products company's stock valued at $781,000 after buying an additional 340 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AGCO in the fourth quarter valued at about $790,000. Natixis Advisors LLC grew its stake in shares of AGCO by 5.3% in the fourth quarter. Natixis Advisors LLC now owns 40,127 shares of the industrial products company's stock valued at $3,751,000 after buying an additional 2,034 shares in the last quarter. Intech Investment Management LLC boosted its holdings in AGCO by 214.0% in the fourth quarter. Intech Investment Management LLC now owns 7,699 shares of the industrial products company's stock valued at $720,000 after purchasing an additional 5,247 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in AGCO by 4.1% in the fourth quarter. Xponance Inc. now owns 10,616 shares of the industrial products company's stock valued at $992,000 after purchasing an additional 415 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Price Performance

NYSE:AGCO traded down $0.69 during mid-day trading on Monday, reaching $106.34. The stock had a trading volume of 507,437 shares, compared to its average volume of 882,798. The stock has a 50-day simple moving average of $104.26 and a two-hundred day simple moving average of $97.51. The stock has a market capitalization of $7.93 billion, a PE ratio of -13.63, a P/E/G ratio of 1.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 0.67. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $116.25.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.38. AGCO had a negative net margin of 5.40% and a positive return on equity of 10.60%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business posted $2.32 earnings per share. The company's quarterly revenue was down 30.0% on a year-over-year basis. On average, equities analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO announced that its board has approved a stock buyback plan on Wednesday, July 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 12.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.09%. AGCO's payout ratio is -14.87%.

Insider Transactions at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the sale, the senior vice president directly owned 17,380 shares in the company, valued at $1,845,408.40. This trade represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 16.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AGCO shares. Oppenheimer reaffirmed an "outperform" rating and set a $115.00 target price (up previously from $108.00) on shares of AGCO in a report on Tuesday, July 15th. Morgan Stanley increased their target price on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. The Goldman Sachs Group raised their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Citigroup reissued a "neutral" rating and issued a $110.00 price target on shares of AGCO in a report on Friday, May 30th. Finally, Truist Financial cut their price target on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $105.89.

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.