New York State Common Retirement Fund Buys 2,500 Shares of AGCO Corporation (NYSE:AGCO)

New York State Common Retirement Fund grew its stake in AGCO Corporation (NYSE:AGCO - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,632 shares of the industrial products company's stock after purchasing an additional 2,500 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of AGCO worth $3,576,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AGCO. SummerHaven Investment Management LLC lifted its position in AGCO by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company's stock worth $763,000 after acquiring an additional 138 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of AGCO by 2.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company's stock valued at $580,000 after buying an additional 144 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of AGCO by 2.3% during the 4th quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company's stock valued at $612,000 after buying an additional 145 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of AGCO by 4.4% during the 4th quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company's stock valued at $340,000 after buying an additional 154 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in shares of AGCO by 6.9% during the 4th quarter. Thoroughbred Financial Services LLC now owns 2,416 shares of the industrial products company's stock valued at $225,000 after buying an additional 156 shares during the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Trading Up 3.0%

Shares of AGCO opened at $109.58 on Wednesday. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of -14.05, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 0.67. AGCO Corporation has a 1-year low of $73.79 and a 1-year high of $116.25. The firm has a 50 day simple moving average of $104.27 and a 200-day simple moving average of $97.61.

AGCO (NYSE:AGCO - Get Free Report) last issued its 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. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The business's quarterly revenue was down 30.0% on a year-over-year basis. During the same period last year, the company posted $2.32 EPS. Equities analysts forecast 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 will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's payout ratio is currently -14.87%.

AGCO announced that its board has approved a stock 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 purchase up to 12.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on AGCO. JPMorgan Chase & Co. boosted their price objective on AGCO from $117.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded AGCO from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group boosted their target price on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley upped their price objective on AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. Finally, Truist Financial cut their price objective on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, AGCO presently has a consensus rating of "Hold" and an average price target of $105.89.

Insider Buying and Selling at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the completion of the sale, the senior vice president owned 17,380 shares of the company's stock, valued at $1,845,408.40. This represents a 1.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.90% of the company's stock.

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.

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