Invesco Ltd. Reduces Stake in AGCO Corporation (NYSE:AGCO)

Invesco Ltd. lessened its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,246,611 shares of the industrial products company's stock after selling 113,690 shares during the period. Invesco Ltd. owned about 3.01% of AGCO worth $207,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of AGCO by 1,250.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,131 shares of the industrial products company's stock valued at $10,565,000 after purchasing an additional 105,679 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of AGCO in the 1st quarter valued at about $1,210,000. Davis Selected Advisers increased its holdings in shares of AGCO by 1.8% in the 1st quarter. Davis Selected Advisers now owns 2,027,266 shares of the industrial products company's stock valued at $187,664,000 after purchasing an additional 35,909 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AGCO by 65.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,019 shares of the industrial products company's stock valued at $7,963,000 after purchasing an additional 34,072 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its holdings in AGCO by 2.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 41,594 shares of the industrial products company's stock worth $3,850,000 after buying an additional 988 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company's stock.

Insider Buying and Selling at AGCO

In related news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction on Monday, August 11th. The stock was 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 approximately $1,771,076.60. This trade represents a 38.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AGCO. Wall Street Zen raised AGCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group increased their price objective on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price objective on AGCO from $130.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup reissued a "neutral" rating and issued a $110.00 price objective on shares of AGCO in a research report on Friday, May 30th. Finally, Morgan Stanley raised their target price on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, AGCO presently has a consensus rating of "Hold" and a consensus price target of $109.63.

AGCO Trading Up 0.7%

AGCO stock traded up $0.82 during trading hours on Friday, hitting $112.20. The stock had a trading volume of 729,047 shares, compared to its average volume of 952,650. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 83.73, a P/E/G ratio of 1.74 and a beta of 1.21. AGCO Corporation has a one year low of $73.79 and a one year high of $121.16. The business's 50 day simple moving average is $107.82 and its 200-day simple moving average is $99.33.

AGCO (NYSE:AGCO - Get Free Report) last issued its quarterly 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. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%. The business's quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. On average, equities analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

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

AGCO Dividend Announcement

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 issued 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 (DPR) is currently 86.57%.

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.