Teacher Retirement System of Texas Buys Shares of 13,090 AGCO Corporation (NYSE:AGCO)

Teacher Retirement System of Texas bought a new position in shares of AGCO Corporation (NYSE:AGCO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,090 shares of the industrial products company's stock, valued at approximately $1,212,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AGCO. GeoWealth Management LLC acquired a new stake in AGCO during the 4th quarter worth approximately $27,000. Citizens National Bank Trust Department increased its position in AGCO by 400.0% during the 1st 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 increased its position in AGCO by 112.3% during the 4th 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 in the last quarter. Abound Wealth Management acquired a new stake in AGCO during the 1st quarter worth approximately $56,000. Finally, UMB Bank n.a. boosted its holdings in AGCO by 140.7% in the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company's stock worth $75,000 after acquiring an additional 474 shares during the period. Institutional investors and hedge funds own 78.80% of the company's stock.

AGCO Stock Down 1.6%

Shares of AGCO stock traded down $1.73 on Monday, hitting $109.13. 60,532 shares of the company's stock traded hands, compared to its average volume of 882,463. The stock has a market cap of $8.14 billion, a P/E ratio of -14.06, a PEG ratio of 1.98 and a beta of 1.24. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.72. The firm's 50-day moving average is $103.16 and its 200 day moving average is $97.00. AGCO Corporation has a 52-week low of $73.79 and a 52-week high of $116.25.

AGCO (NYSE:AGCO - Get Free Report) last announced its quarterly earnings data 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 positive return on equity of 10.60% and a negative net margin of 5.40%. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.06 billion. During the same period last year, the business posted $2.32 earnings per share. The firm's revenue for the quarter was down 30.0% on a year-over-year basis. Equities analysts anticipate that AGCO Corporation will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, August 15th. AGCO's dividend payout ratio (DPR) is presently -14.87%.

AGCO announced that its board has initiated a share repurchase plan on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

AGCO has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on AGCO from $91.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. upped their price target on AGCO from $117.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup restated a "neutral" rating and issued a $110.00 price target on shares of AGCO in a report on Friday, May 30th. UBS Group set a $106.00 target price on AGCO in a research report on Tuesday, April 22nd. Finally, Wall Street Zen raised AGCO from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, AGCO presently has a consensus rating of "Hold" and a consensus price target of $105.40.

Insider Transactions at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the firm's stock in a transaction 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 in the company, valued at approximately $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 can be accessed through this link. Insiders own 16.90% of the company's stock.

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.