AGCO Corporation (NYSE:AGCO) Stock Position Decreased by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 37.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 33,787 shares of the industrial products company's stock after selling 20,434 shares during the period. Federated Hermes Inc.'s holdings in AGCO were worth $3,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC purchased a new stake in AGCO in the fourth quarter worth approximately $27,000. Citizens National Bank Trust Department raised its position in AGCO by 400.0% during the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Abound Wealth Management bought a new position in shares of AGCO in the 1st quarter worth $56,000. UMB Bank n.a. boosted its holdings in AGCO by 140.7% in the first quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock worth $75,000 after acquiring an additional 474 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in AGCO by 66.9% during the first quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company's stock valued at $84,000 after buying an additional 364 shares during the period. 78.80% of the stock is owned by institutional investors.

AGCO Stock Down 1.3%

Shares of AGCO stock traded down $1.47 during trading hours on Thursday, reaching $111.61. The company had a trading volume of 739,760 shares, compared to its average volume of 883,196. The stock's fifty day simple moving average is $106.16 and its 200 day simple moving average is $98.97. The company has a market capitalization of $8.33 billion, a P/E ratio of 83.29, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $121.16.

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

AGCO announced that its board has initiated a share repurchase plan 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 repurchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio is 86.57%.

Insider Activity

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total transaction of $26,545.00. Following the transaction, the senior vice president owned 17,380 shares of the company's stock, valued at $1,845,408.40. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AGCO shares. Morgan Stanley raised their price target on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. The Goldman Sachs Group increased their target price on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded shares of AGCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Oppenheimer lifted their target price on shares of AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $106.67.

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.