Perigon Wealth Management LLC Decreases Stake in AGCO Corporation (NYSE:AGCO)

Perigon Wealth Management LLC reduced its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 82.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,703 shares of the industrial products company's stock after selling 21,443 shares during the quarter. Perigon Wealth Management LLC's holdings in AGCO were worth $435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of AGCO by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,669 shares of the industrial products company's stock worth $43,905,000 after buying an additional 15,531 shares during the last quarter. LPL Financial LLC lifted its holdings in AGCO by 4.9% during the fourth quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company's stock worth $2,135,000 after acquiring an additional 1,016 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AGCO by 12.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,692 shares of the industrial products company's stock worth $1,467,000 after purchasing an additional 1,788 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in AGCO by 2.4% in 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 purchasing an additional 144 shares during the period. Finally, Raymond James Financial Inc. bought a new position in AGCO in the 4th quarter valued at $16,845,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Performance

Shares of NYSE AGCO traded down $0.85 during midday trading on Friday, hitting $109.70. The company's stock had a trading volume of 461,160 shares, compared to its average volume of 889,824. The firm 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. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $100.97 and a 200 day moving average price of $96.35. AGCO Corporation has a one year low of $73.79 and a one year high of $111.69.

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

AGCO Announces Dividend

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

Insider Buying and Selling 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 value of $26,545.00. Following the sale, the senior vice president directly owned 17,380 shares of the company's stock, 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 through the SEC website. 16.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AGCO. UBS Group set a $106.00 target price on AGCO in a research note on Tuesday, April 22nd. Oppenheimer lowered their price objective on shares of AGCO from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of AGCO from $110.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Morgan Stanley raised their price target on shares of AGCO from $75.00 to $84.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Finally, Truist Financial lowered their price target on shares of AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $104.10.

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.