AGCO Corporation (NYSE:AGCO) Shares Bought by Impax Asset Management Group plc

Impax Asset Management Group plc raised its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,475 shares of the industrial products company's stock after purchasing an additional 12,284 shares during the period. Impax Asset Management Group plc owned 0.17% of AGCO worth $11,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of AGCO. SummerHaven Investment Management LLC raised its position in AGCO by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company's stock worth $763,000 after purchasing an additional 138 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of AGCO by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock worth $580,000 after buying an additional 144 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of AGCO by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock worth $612,000 after buying an additional 145 shares during the period. Arizona State Retirement System raised its holdings in shares of AGCO by 0.8% in the fourth quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company's stock worth $1,721,000 after buying an additional 150 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of AGCO by 4.4% in the fourth quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company's stock worth $340,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 78.80% of the company's stock.

AGCO Stock Down 0.8%

AGCO stock traded down $0.85 during trading on Friday, hitting $109.70. 461,160 shares of the company's stock traded hands, compared to its average volume of 886,774. The firm has a market capitalization of $8.18 billion, a P/E ratio of -14.06, a PEG ratio of 1.98 and a beta of 1.24. The business has a fifty day simple moving average of $100.97 and a two-hundred day simple moving average of $96.37. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.72. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $111.69.

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

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, May 15th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 15th. AGCO's payout ratio is currently -14.87%.

Insider Activity

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO 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 transaction, the senior vice president directly owned 17,380 shares of the company's stock, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. raised their price target on shares of AGCO from $110.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Truist Financial reduced their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Citigroup reaffirmed a "neutral" rating and set a $110.00 target price on shares of AGCO in a research report on Friday, May 30th. Finally, The Goldman Sachs Group raised their target price on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, AGCO presently has a consensus rating of "Hold" and a consensus price target of $104.10.

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.