32,378 Shares in AGCO Co. (NYSE:AGCO) Bought by Price Capital Management Inc.

Price Capital Management Inc. bought a new position in AGCO Co. (NYSE:AGCO) during the second quarter, Holdings Channel reports. The fund bought 32,378 shares of the industrial products company’s stock, valued at approximately $2,512,000. AGCO comprises about 5.8% of Price Capital Management Inc.’s holdings, making the stock its 8th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of AGCO. Steward Partners Investment Advisory LLC acquired a new position in shares of AGCO in the 2nd quarter worth $50,000. First Interstate Bank acquired a new position in shares of AGCO in the 2nd quarter worth $61,000. Investors Research Corp acquired a new position in shares of AGCO in the 1st quarter worth $94,000. Quadrant Capital Group LLC grew its holdings in shares of AGCO by 83.7% in the 1st quarter. Quadrant Capital Group LLC now owns 1,488 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 678 shares during the last quarter. Finally, Private Capital Group LLC grew its holdings in shares of AGCO by 51.3% in the 1st quarter. Private Capital Group LLC now owns 1,652 shares of the industrial products company’s stock worth $115,000 after acquiring an additional 560 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

A number of equities analysts recently issued reports on the company. Credit Suisse Group restated a “neutral” rating and issued a $83.00 target price (up from $70.00) on shares of AGCO in a report on Wednesday, July 31st. ValuEngine downgraded AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Jefferies Financial Group upgraded AGCO from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $90.00 in a report on Monday, June 24th. Royal Bank of Canada set a $88.00 price target on AGCO and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price target on AGCO from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. AGCO currently has an average rating of “Hold” and an average target price of $77.07.

In related news, Chairman Martin Richenhagen sold 51,000 shares of AGCO stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $71.60, for a total transaction of $3,651,600.00. Following the completion of the sale, the chairman now owns 473,733 shares of the company’s stock, valued at $33,919,282.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gary L. Collar sold 5,000 shares of AGCO stock in a transaction on Monday, August 12th. The shares were sold at an average price of $72.96, for a total value of $364,800.00. Following the sale, the vice president now directly owns 83,807 shares of the company’s stock, valued at approximately $6,114,558.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,977 shares of company stock valued at $8,707,768. Insiders own 17.60% of the company’s stock.

Shares of AGCO stock traded up $0.56 on Wednesday, reaching $69.54. 29,733 shares of the company’s stock traded hands, compared to its average volume of 762,946. AGCO Co. has a 12-month low of $49.50 and a 12-month high of $80.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. The company has a market capitalization of $5.31 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The business’s 50 day moving average price is $74.14 and its two-hundred day moving average price is $70.60.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.55 billion. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. Research analysts predict that AGCO Co. will post 5.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.92%. AGCO’s payout ratio is 16.45%.

AGCO Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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