Envestnet Asset Management Inc. Grows Holdings in AGCO Corporation (NYSE:AGCO)

Envestnet Asset Management Inc. boosted its position in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,951 shares of the industrial products company's stock after purchasing an additional 8,293 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of AGCO worth $9,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of AGCO by 4.2% during 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 during the last quarter. Intech Investment Management LLC grew its position in AGCO by 214.0% in the 4th quarter. Intech Investment Management LLC now owns 7,699 shares of the industrial products company's stock valued at $720,000 after acquiring an additional 5,247 shares during the last quarter. Xponance Inc. increased its stake in AGCO by 4.1% in the fourth quarter. Xponance Inc. now owns 10,616 shares of the industrial products company's stock worth $992,000 after purchasing an additional 415 shares during the period. American Century Companies Inc. lifted its position in shares of AGCO by 11.4% during the fourth quarter. American Century Companies Inc. now owns 124,696 shares of the industrial products company's stock worth $11,657,000 after purchasing an additional 12,780 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of AGCO by 31.9% during the fourth quarter. Sei Investments Co. now owns 178,175 shares of the industrial products company's stock worth $16,655,000 after purchasing an additional 43,119 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AGCO

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

AGCO Stock Down 1.4%

AGCO traded down $1.58 during trading on Thursday, hitting $110.54. The stock had a trading volume of 279,132 shares, compared to its average volume of 859,677. The stock has a 50 day simple moving average of $104.49 and a two-hundred day simple moving average of $97.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.53. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $116.25. The company has a market capitalization of $8.25 billion, a PE ratio of -14.17, a PEG ratio of 1.96 and a beta of 1.24.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data 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. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the firm earned $2.32 EPS. The business's quarterly revenue was down 30.0% on a year-over-year basis. On average, research analysts predict that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO declared that its board has authorized a share buyback plan on Wednesday, July 9th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 12.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.05%. AGCO's payout ratio is -14.87%.

Analysts Set New Price Targets

AGCO has been the topic of several recent analyst reports. Citigroup reaffirmed a "neutral" rating and issued a $110.00 price target on shares of AGCO in a research note on Friday, May 30th. Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group raised their price objective on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Oppenheimer reissued an "outperform" rating and set a $115.00 price target (up previously from $108.00) on shares of AGCO in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on AGCO from $117.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $105.89.

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.