Schechter Investment Advisors LLC trimmed its holdings in shares of AGCO Corporation (NYSE:AGCO - Free Report) by 30.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,906 shares of the industrial products company's stock after selling 4,279 shares during the period. Schechter Investment Advisors LLC's holdings in AGCO were worth $917,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in AGCO. Price T Rowe Associates Inc. MD increased its stake in AGCO by 128.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company's stock valued at $608,026,000 after purchasing an additional 3,654,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AGCO by 9.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company's stock valued at $278,951,000 after purchasing an additional 258,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AGCO by 534.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company's stock valued at $271,259,000 after purchasing an additional 2,444,615 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of AGCO by 1.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company's stock valued at $256,522,000 after purchasing an additional 39,966 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of AGCO by 68.7% in the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company's stock worth $220,641,000 after buying an additional 961,081 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on AGCO. JPMorgan Chase & Co. lifted their target price on shares of AGCO from $117.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup reiterated a "neutral" rating and set a $110.00 target price on shares of AGCO in a research note on Friday, May 30th. Wall Street Zen upgraded shares of AGCO from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group boosted their price target on shares of AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Finally, UBS Group set a $106.00 target price on shares of AGCO in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, AGCO currently has an average rating of "Hold" and a consensus price target of $106.30.
Read Our Latest Stock Analysis on AGCO
Insider Activity
In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the sale, the senior vice president 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.90% of the company's stock.
AGCO Stock Performance
AGCO stock traded down $1.53 during mid-day trading on Tuesday, hitting $106.80. The company had a trading volume of 691,526 shares, compared to its average volume of 883,661. The stock's fifty day moving average price is $103.16 and its two-hundred day moving average price is $97.00. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $116.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.53. The firm has a market cap of $7.97 billion, a PE ratio of -13.69, a price-to-earnings-growth ratio of 1.98 and a beta of 1.24.
AGCO (NYSE:AGCO - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business earned $2.32 earnings per share. The firm's quarterly revenue was down 30.0% compared to the same quarter last year. On average, analysts forecast that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.
AGCO Announces Dividend
The business also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's payout ratio is presently -14.87%.
AGCO announced that its board has approved a stock buyback plan on Wednesday, July 9th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits 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 believes its stock is undervalued.
AGCO Company Profile
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Free Report)
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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