AGCO Co. (NYSE:AGCO) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in shares of AGCO Co. (NYSE:AGCO) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,896 shares of the industrial products company’s stock after selling 1,026 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in AGCO were worth $1,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC increased its position in shares of AGCO by 121.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. Manchester Capital Management LLC increased its holdings in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 110 shares during the period. LRI Investments LLC acquired a new stake in shares of AGCO during the first quarter worth about $30,000. Blue Trust Inc. boosted its position in AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after buying an additional 174 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in AGCO by 69.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock worth $40,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Insider Buying and Selling at AGCO

In other news, Director Michael C. Arnold purchased 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the transaction, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AGCO news, Director Michael C. Arnold bought 1,800 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $87.69 per share, with a total value of $157,842.00. Following the purchase, the director now directly owns 20,465 shares in the company, valued at approximately $1,794,575.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lange Bob De bought 1,420 shares of AGCO stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $87.91 per share, with a total value of $124,832.20. Following the completion of the transaction, the director now directly owns 7,007 shares of the company’s stock, valued at $615,985.37. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

AGCO Trading Up 1.7 %

Shares of NYSE:AGCO opened at $92.75 on Wednesday. The business’s 50 day moving average price is $92.44 and its 200-day moving average price is $104.50. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 6.28, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the prior year, the company posted $4.29 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. On average, equities research analysts forecast that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.25%. AGCO’s dividend payout ratio (DPR) is currently 7.85%.

Analyst Ratings Changes

Several brokerages have commented on AGCO. BMO Capital Markets began coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. The Goldman Sachs Group lowered their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. reduced their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Truist Financial restated a “buy” rating and issued a $118.00 target price (down previously from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. Finally, Oppenheimer reduced their price target on AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, AGCO presently has an average rating of “Hold” and an average target price of $118.91.

About AGCO

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.