Illinois Municipal Retirement Fund Has $1.01 Million Position in AGCO Corporation (NYSE:AGCO)

Illinois Municipal Retirement Fund reduced its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 70.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,916 shares of the industrial products company's stock after selling 26,128 shares during the quarter. Illinois Municipal Retirement Fund's holdings in AGCO were worth $1,010,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GeoWealth Management LLC bought a new stake in shares of AGCO during the fourth quarter valued at approximately $27,000. Cullen Frost Bankers Inc. bought a new stake in shares of AGCO during the fourth quarter worth approximately $33,000. Jones Financial Companies Lllp lifted its holdings in AGCO by 112.3% in the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company's stock valued at $47,000 after buying an additional 265 shares during the period. Abound Wealth Management bought a new position in AGCO in the first quarter valued at approximately $56,000. Finally, UMB Bank n.a. boosted its stake in AGCO by 140.7% in the first quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock valued at $75,000 after acquiring an additional 474 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

Insider Activity at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the sale, the senior vice president directly owned 17,380 shares in the company, valued at $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 SEC, which is available at this hyperlink. 16.60% of the stock is currently owned by insiders.

AGCO Trading Down 0.8%

Shares of NYSE AGCO traded down $0.85 during midday trading on Friday, reaching $109.70. 461,160 shares of the stock were exchanged, compared to its average volume of 886,774. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $111.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 0.67. The business has a 50-day simple moving average of $100.97 and a two-hundred day simple moving average of $96.37. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of -14.06, a P/E/G ratio of 1.98 and a beta of 1.24.

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

AGCO Dividend Announcement

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

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of recent research reports. UBS Group set a $106.00 price objective on shares of AGCO in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised their price objective on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Morgan Stanley raised their price objective on shares of AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Wall Street Zen raised shares of AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Citigroup reissued a "neutral" rating and set a $110.00 price target on shares of AGCO in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, AGCO currently has an average rating of "Hold" and a consensus price target of $104.10.

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.