AGCO Corporation (NYSE:AGCO) Shares Sold by AGF Management Ltd.

Key Points

• AGF Management Ltd. has reduced its stake in AGCO Corporation by 1.3%, selling 2,731 shares, and currently owns 202,831 shares valued at approximately $18.8 million.
• AGCO has declared a quarterly dividend of $0.29 per share, with a payout ratio of 86.57%, and a yield of 1.0% anticipated to be paid on September 15th.
• Following recent earnings, AGCO reported a quarterly EPS of $1.35, surpassing analysts' estimates of $1.06, despite experiencing an 18.8% decline in revenue year-over-year.

AGF Management Ltd. reduced its position in AGCO Corporation (NYSE:AGCO - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,831 shares of the industrial products company's stock after selling 2,731 shares during the period. AGF Management Ltd. owned 0.27% of AGCO worth $18,776,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. CCM Investment Group LLC purchased a new position in shares of AGCO in the 1st quarter valued at approximately $237,000. Nuveen LLC purchased a new position in shares of AGCO in the 1st quarter valued at approximately $10,264,000. Virtu Financial LLC purchased a new position in shares of AGCO in the 1st quarter valued at approximately $1,012,000. Entropy Technologies LP purchased a new position in shares of AGCO in the 1st quarter valued at approximately $1,902,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in AGCO by 1,250.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,131 shares of the industrial products company's stock worth $10,565,000 after buying an additional 105,679 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Price Performance

AGCO traded up $1.11 on Friday, hitting $112.20. 729,042 shares of the company's stock were exchanged, compared to its average volume of 881,311. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $121.16. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $107.60 and a 200-day moving average price of $99.28. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 83.73, a P/E/G ratio of 1.81 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm earned $2.53 EPS. The company's quarterly revenue was down 18.8% compared to the same quarter last year. As a group, equities analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently disclosed 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. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 15th. AGCO's payout ratio is 86.57%.

AGCO declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 9th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AGCO shares. UBS Group reaffirmed a "neutral" rating and set a $119.00 target price (up from $100.00) on shares of AGCO in a report on Friday, August 8th. The Goldman Sachs Group lifted their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Morgan Stanley lifted their target price on shares of AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their target price on shares of AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Oppenheimer lifted their price target on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $109.63.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the sale, the senior vice president directly owned 16,189 shares in the company, valued at $1,771,076.60. This represents a 38.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.60% of the company's stock.

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.