AGCO Co. (NYSE:AGCO) Holdings Raised by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its position in shares of AGCO Co. (NYSE:AGCO) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,241 shares of the industrial products company’s stock after purchasing an additional 138 shares during the quarter. SummerHaven Investment Management LLC’s holdings in AGCO were worth $763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AGCO. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $608,026,000 after purchasing an additional 3,654,350 shares during the period. Dimensional Fund Advisors LP grew 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 buying an additional 258,054 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in AGCO by 534.7% during the fourth 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 worth $271,259,000 after acquiring an additional 2,444,615 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in AGCO by 1.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company’s stock worth $256,522,000 after acquiring an additional 39,966 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in 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 acquiring an additional 961,081 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.

AGCO Stock Down 0.2%

AGCO stock opened at $102.46 on Thursday. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $108.76. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -18.01, a PEG ratio of 1.80 and a beta of 1.24. The company’s 50-day moving average price is $93.66 and its two-hundred day moving average price is $95.81. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.03 by $0.38. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company 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 expect that AGCO Co. will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, May 15th. AGCO’s dividend payout ratio (DPR) is presently -14.87%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating and set a $110.00 price target on shares of AGCO in a research report on Friday, May 30th. Truist Financial dropped their target price on AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. UBS Group set a $106.00 target price on AGCO in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of AGCO from $110.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.10.

Insider Buying and Selling at AGCO

In other AGCO news, SVP Kelvin Eugene Bennett sold 250 shares of the company’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 transaction, the senior vice president now owns 17,380 shares of the company’s stock, valued at approximately $1,845,408.40. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.60% of the stock is owned by corporate 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.