Insider Selling: AGCO (NYSE:AGCO) SVP Sells $1,363,230.00 in Stock

Key Points

• AGCO SVP Torsten Dehner sold 12,393 shares for $1.36 million at an average price of $110, reducing his direct stake by 26.38% to 34,589 shares. He also reported a separate sale of 15,000 shares for $1.69 million.
• AGCO’s latest quarter beat earnings expectations, reporting adjusted earnings per share of $1.05 versus $0.87 expected, but revenue of $2.26 billion fell short of estimates and declined 8.6% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $123.67. AGCO also announced a quarterly dividend of $0.30 per share, equivalent to a 1.0% annualized yield.

AGCO Corporation (NYSE:AGCO - Get Free Report) SVP Torsten Dehner sold 12,393 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $110.00, for a total transaction of $1,363,230.00. Following the completion of the transaction, the senior vice president directly owned 34,589 shares of the company's stock, valued at $3,804,790. The trade was a 26.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Torsten Rudolf Willi Dehner also recently made the following trade(s):

• On Monday, November 9th, Torsten Dehner sold 15,000 shares of AGCO stock. The stock was sold at an average price of $112.50, for a total transaction of $1,687,500.00.

AGCO Trading Up 5.6%

NYSE AGCO opened at $116.60 on Tuesday. The company has a fifty day simple moving average of $114.26 and a two-hundred day simple moving average of $116.30. The stock has a market cap of $8.04 billion, a P/E ratio of 29.98, a P/E/G ratio of 0.86 and a beta of 1.12. AGCO Corporation has a 12-month low of $98.22 and a 12-month high of $143.78. The company has a current ratio of 1.32, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.87 by $0.18. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.32 billion. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.35 earnings per share. On average, analysts forecast that AGCO Corporation will post 5.49 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a $0.30 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. AGCO's dividend payout ratio (DPR) is 30.85%.

Institutional Investors Weigh In On AGCO

Several hedge funds have recently added to or reduced their stakes in AGCO. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AGCO during the 2nd quarter worth about $1,239,000. The Manufacturers Life Insurance Company lifted its holdings in shares of AGCO by 27.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 126,234 shares of the industrial products company's stock valued at $14,626,000 after buying an additional 26,862 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of AGCO in the 2nd quarter valued at about $2,216,000. Corient Private Wealth LP lifted its holdings in shares of AGCO by 21.5% in the 2nd quarter. Corient Private Wealth LP now owns 99,102 shares of the industrial products company's stock valued at $11,863,000 after buying an additional 17,562 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of AGCO by 19.4% in the first quarter. Bank of America Corp DE now owns 543,955 shares of the industrial products company's stock worth $63,028,000 after buying an additional 88,571 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on AGCO shares. Robert W. Baird upgraded AGCO from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $120.00 to $150.00 in a research note on Monday, August 31st. Oppenheimer restated an "outperform" rating on shares of AGCO in a research note on Friday, October 30th. DA Davidson reaffirmed a "buy" rating and set a $151.00 target price on shares of AGCO in a report on Thursday, October 8th. Truist Financial reaffirmed a "buy" rating and set a $136.00 target price (down from $146.00) on shares of AGCO in a report on Monday, November 2nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $108.00 target price on shares of AGCO in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $123.67.

About AGCO

AGCO Corporation designs, manufactures and distributes agricultural equipment and technology for farmers around the world. Its products include tractors, combines, hay and forage equipment, sprayers, seeding and tillage equipment, grain storage systems, and precision agriculture solutions.

The company's brands include Fendt, Massey Ferguson, Valtra, and PTx, its precision agriculture business. AGCO was formed in 1990 and is headquartered in Duluth, Georgia.

AGCO serves agricultural markets globally through a network of dealers and other distribution partners.

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