Sarasin & Partners LLP Sells 2,500 Shares of AGCO Co. (NYSE:AGCO)

Sarasin & Partners LLP lessened its stake in shares of AGCO Co. (NYSE:AGCO) by 11.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the industrial products company’s stock after selling 2,500 shares during the period. Sarasin & Partners LLP’s holdings in AGCO were worth $1,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of AGCO by 32.2% during the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 320 shares during the period. Allworth Financial LP increased its position in AGCO by 333.3% in the 4th quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after buying an additional 220 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in AGCO by 2.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 22,877 shares of the industrial products company’s stock valued at $2,139,000 after buying an additional 567 shares in the last quarter. Principal Financial Group Inc. raised its stake in AGCO by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 711,687 shares of the industrial products company’s stock worth $66,536,000 after buying an additional 27,438 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in AGCO by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,265 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 110 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Stock Performance

AGCO stock opened at $103.20 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market cap of $7.70 billion, a PE ratio of -18.14, a P/E/G ratio of 1.80 and a beta of 1.24. The business has a 50 day moving average of $92.79 and a 200-day moving average of $95.71. AGCO Co. has a 12-month low of $73.79 and a 12-month high of $108.76.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.38. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The business’s revenue was down 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.32 earnings per share. As a group, sell-side analysts expect that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.12%. AGCO’s payout ratio is currently -14.87%.

Analysts Set New Price Targets

Several research firms have recently commented on AGCO. Wall Street Zen upgraded AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target 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. Citigroup restated a “neutral” rating and set a $110.00 price objective on shares of AGCO in a report on Friday, May 30th. Oppenheimer reduced their price objective on shares of AGCO from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of 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, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, AGCO has a consensus rating of “Hold” and an average target price of $104.10.

Insider Transactions at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the sale, the senior vice president now owns 17,380 shares of the company’s stock, valued at approximately $1,845,408.40. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.60% of the stock is currently owned by company insiders.

AGCO Company 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.