DekaBank Deutsche Girozentrale Purchases 17,471 Shares of AGCO Corporation (NYSE:AGCO)

DekaBank Deutsche Girozentrale grew its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,012,681 shares of the industrial products company's stock after buying an additional 17,471 shares during the quarter. DekaBank Deutsche Girozentrale owned 1.36% of AGCO worth $93,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC acquired a new stake in shares of AGCO in the 4th quarter worth about $27,000. Citizens National Bank Trust Department raised its position in shares of AGCO by 400.0% during the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after purchasing an additional 240 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in AGCO during the 4th quarter worth about $33,000. Jones Financial Companies Lllp lifted its stake in AGCO by 112.3% during the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock valued at $47,000 after buying an additional 265 shares in the last quarter. Finally, Abound Wealth Management purchased a new position in shares of AGCO in the first quarter worth approximately $56,000. 78.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the sale, the senior vice president owned 17,380 shares in the company, valued at approximately $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

AGCO Stock Performance

Shares of NYSE AGCO traded down $2.92 during trading hours on Friday, hitting $110.85. 580,530 shares of the stock were exchanged, compared to its average volume of 884,600. AGCO Corporation has a one year low of $73.79 and a one year high of $116.25. The company's 50 day moving average is $102.85 and its 200 day moving average is $96.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 0.67. The firm has a market capitalization of $8.27 billion, a P/E ratio of -14.21, a P/E/G ratio of 1.98 and a beta of 1.24.

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

AGCO announced that its board has initiated a stock repurchase program on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio (DPR) is currently -14.87%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. Wall Street Zen raised AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. UBS Group set a $106.00 price objective on AGCO in a report on Tuesday, April 22nd. Oppenheimer reduced their target price on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group increased their price target on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, AGCO currently has an average rating of "Hold" and an average price target of $105.40.

AGCO 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.