Amalgamated Bank Sells 3,927 Shares of AGCO Co. (NYSE:AGCO)

Amalgamated Bank lowered its stake in AGCO Co. (NYSE:AGCO) by 9.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,867 shares of the industrial products company’s stock after selling 3,927 shares during the quarter. Amalgamated Bank owned about 0.05% of AGCO worth $3,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AGCO. FinTrust Capital Advisors LLC raised its stake 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 acquiring an additional 117 shares during the period. Manchester Capital Management LLC raised its position in shares of AGCO by 93.2% during the 1st 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 purchased a new position in shares of AGCO during the 1st quarter valued at $30,000. Blue Trust Inc. boosted its holdings in 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 buying an additional 174 shares during the period. Finally, First Horizon Advisors Inc. increased its stake 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 in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AGCO

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

Analysts Set New Price Targets

Several brokerages have recently commented on AGCO. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. UBS Group decreased their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and issued a $118.00 price objective (down previously from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. BMO Capital Markets began coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 target price for the company. Finally, Raymond James began coverage on shares of AGCO in a report on Friday, June 28th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $118.91.

AGCO Stock Performance

Shares of NYSE:AGCO opened at $94.74 on Monday. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. AGCO Co. has a 52 week low of $84.35 and a 52 week high of $130.26. The firm has a 50 day moving average of $92.33 and a 200 day moving average of $104.18.

AGCO (NYSE:AGCO) last announced its 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). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the firm posted $4.29 earnings per share. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, sell-side analysts predict that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

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

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.