Peterson Wealth Services Invests $712,000 in AGCO Corporation (NYSE:AGCO)

Peterson Wealth Services bought a new position in AGCO Corporation (NYSE:AGCO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,689 shares of the industrial products company's stock, valued at approximately $712,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its position in shares of AGCO by 1.7% in 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 in the last quarter. O Shaughnessy Asset Management LLC increased its position in 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 in the last quarter. Neuberger Berman Group LLC increased its position in 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 in the last quarter. ProShare Advisors LLC increased its position in 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 in the last quarter. Finally, Thoroughbred Financial Services LLC increased its position in 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 in the last quarter. Institutional investors own 78.80% of the company's stock.

AGCO Stock Performance

NYSE AGCO traded up $3.17 on Tuesday, hitting $109.58. 502,355 shares of the company's stock were exchanged, compared to its average volume of 881,282. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.53 and a quick ratio of 0.67. The firm's 50-day moving average price is $104.27 and its two-hundred day moving average price is $97.61. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $116.25. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of -14.05, a P/E/G ratio of 1.91 and a beta of 1.24.

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

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

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued 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 dividend yield of 1.06%. AGCO's payout ratio is -14.87%.

Insider Activity at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was 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 directly owned 17,380 shares in the company, valued at $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AGCO. Truist Financial lowered their target price on AGCO from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Oppenheimer upped their target price on AGCO from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on AGCO from $117.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group set a $106.00 price target on AGCO in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group increased their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $105.89.

AGCO 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.