3,369 Shares in AGCO Corporation (NYSE:AGCO) Acquired by MQS Management LLC

MQS Management LLC purchased a new position in AGCO Corporation (NYSE:AGCO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,369 shares of the industrial products company's stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GeoWealth Management LLC purchased a new stake in shares of AGCO in the fourth quarter worth approximately $27,000. Citizens National Bank Trust Department raised its holdings in AGCO by 400.0% in the first quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company's stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Jones Financial Companies Lllp grew 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 worth $47,000 after purchasing an additional 265 shares during the last quarter. Abound Wealth Management acquired a new position in shares of AGCO during the first quarter worth $56,000. Finally, UMB Bank n.a. raised 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 buying an additional 474 shares during the last quarter. Institutional investors own 78.80% of the company's stock.

AGCO Price Performance

AGCO stock traded down $1.21 during trading on Friday, reaching $106.51. The company had a trading volume of 222,341 shares, compared to its average volume of 882,370. The firm has a market capitalization of $7.94 billion, a PE ratio of -13.66, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. The firm's 50-day simple moving average is $104.11 and its 200 day simple moving average is $97.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.53. AGCO Corporation has a 1-year low of $73.79 and a 1-year high of $116.25.

AGCO (NYSE:AGCO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $2.32 EPS. The company's revenue for the quarter was down 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.09%. AGCO's payout ratio is presently -14.87%.

Insider Transactions at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the business's 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 directly owned 17,380 shares in the company, valued at $1,845,408.40. The trade was a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reissued an "outperform" rating and set a $115.00 price objective (up from $108.00) on shares of AGCO in a report on Tuesday. The Goldman Sachs Group lifted their price objective on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. raised their target price on AGCO from $117.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley boosted their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Finally, UBS Group set a $106.00 price objective on AGCO in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $106.30.

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.