LPL Financial LLC Acquires 6,187 Shares of AGCO Corporation $AGCO

Key Points

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LPL Financial LLC boosted its stake in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 28.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,999 shares of the industrial products company's stock after buying an additional 6,187 shares during the quarter. LPL Financial LLC's holdings in AGCO were worth $2,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of AGCO in the fourth quarter worth approximately $16,845,000. Canada Pension Plan Investment Board lifted its position in shares of AGCO by 276.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,400 shares of the industrial products company's stock worth $598,000 after purchasing an additional 4,700 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of AGCO by 265.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 195,101 shares of the industrial products company's stock valued at $18,221,000 after purchasing an additional 141,713 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of AGCO during the fourth quarter worth $27,000. Finally, First Trust Advisors LP lifted its holdings in AGCO by 15.4% in the fourth quarter. First Trust Advisors LP now owns 1,118,393 shares of the industrial products company's stock valued at $104,547,000 after buying an additional 148,896 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AGCO

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $109.40, for a total value of $1,094,000.00. Following the completion of the transaction, the senior vice president owned 16,189 shares of the company's stock, valued at $1,771,076.60. The trade was a 38.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several research analyst reports. UBS Group reissued a "neutral" rating and issued a $119.00 price objective (up from $100.00) on shares of AGCO in a research report on Friday, August 8th. Morgan Stanley lifted their target price on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. increased their price target on AGCO from $130.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. The Goldman Sachs Group raised their price objective on shares of AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Citigroup reiterated a "neutral" rating and set a $110.00 target price on shares of AGCO in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $109.63.

AGCO Stock Performance

NYSE AGCO opened at $113.14 on Tuesday. The company's 50 day simple moving average is $108.02 and its two-hundred day simple moving average is $99.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.67. AGCO Corporation has a 1 year low of $73.79 and a 1 year high of $121.16. The stock has a market capitalization of $8.44 billion, a PE ratio of 84.43, a P/E/G ratio of 1.76 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) 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 analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%. The firm's quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the company earned $2.53 earnings per share. Analysts predict that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

AGCO Dividend Announcement

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

About AGCO

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.

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