Pacer Advisors Inc. Raises Stake in AGCO Co. (NYSE:AGCO)

Pacer Advisors Inc. boosted its holdings in AGCO Co. (NYSE:AGCO) by 103.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,571,453 shares of the industrial products company’s stock after purchasing an additional 799,429 shares during the quarter. Pacer Advisors Inc. owned approximately 2.11% of AGCO worth $153,814,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Robert W. Baird decreased their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Citigroup started coverage on AGCO in a report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price objective on the stock. Barclays dropped their price objective on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Oppenheimer cut their price target on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $118.91.

AGCO Stock Down 1.1 %

AGCO stock opened at $94.74 on Friday. The stock’s fifty day simple moving average is $92.33 and its two-hundred day simple moving average is $104.26. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The stock has a market cap of $7.07 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.83 and a beta of 1.25. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.29 earnings per share. Analysts expect that AGCO Co. will post 8 EPS for the current year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.22%. AGCO’s payout ratio is presently 7.85%.

Insider Activity

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

AGCO 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.