AGCO Corporation (NYSE:AGCO) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 86.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,193 shares of the industrial products company's stock after selling 41,232 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in AGCO were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AGCO. GeoWealth Management LLC bought a new position in shares of AGCO during the 4th quarter valued at approximately $27,000. Allworth Financial LP boosted its position in shares of AGCO by 333.3% during the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 220 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of AGCO during the 4th quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its position in shares of AGCO by 112.3% during the 4th quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 265 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of AGCO by 30.8% during the 4th quarter. First Horizon Advisors Inc. now owns 688 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 162 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Up 0.4%

AGCO traded up $0.44 on Wednesday, hitting $102.43. The company had a trading volume of 549,754 shares, compared to its average volume of 886,856. The stock has a fifty day moving average price of $95.81 and a 200-day moving average price of $95.84. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $108.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.53. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of -13.13, a P/E/G ratio of 1.86 and a beta of 1.24.

AGCO (NYSE:AGCO - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the firm earned $2.32 earnings per share. The firm's quarterly revenue was down 30.0% compared to the same quarter last year. Analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, May 15th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.16 annualized dividend and a yield of 1.13%. AGCO's dividend payout ratio (DPR) is presently -14.87%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley raised their price target on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. Oppenheimer reduced their target price on AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Baird R W lowered AGCO from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. UBS Group set a $106.00 target price on AGCO in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on AGCO from $110.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $104.10.

Insider Buying and Selling at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's 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 completion of the sale, the senior vice president now owns 17,380 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 16.60% of the stock is owned by insiders.

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.