Millennium Management LLC Acquires 63,434 Shares of AGCO Co. (NYSE:AGCO)

Millennium Management LLC raised its stake in shares of AGCO Co. (NYSE:AGCO) by 172.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 100,153 shares of the industrial products company’s stock after acquiring an additional 63,434 shares during the period. Millennium Management LLC owned approximately 0.13% of AGCO worth $9,803,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC grew its holdings in shares of AGCO by 121.9% in the first 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 increased 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 last quarter. LRI Investments LLC bought a new position in shares of AGCO in the 1st quarter worth approximately $30,000. Blue Trust Inc. lifted its stake 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 period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of AGCO by 69.0% in the second 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 last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Analysts Set New Price Targets

AGCO has been the topic of several recent research reports. Robert W. Baird decreased their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Oppenheimer decreased their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut 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. Finally, Raymond James started coverage on shares of AGCO in a research note on Friday, June 28th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, AGCO presently has a consensus rating of “Hold” and an average target price of $118.91.

Insiders Place Their Bets

In other AGCO news, Director Michael C. Arnold bought 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased 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 in the company, valued at $1,794,575.85. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael C. Arnold acquired 1,800 shares of AGCO stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $87.69 per share, with a total value of $157,842.00. Following the completion of the purchase, the director now directly owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lange Bob De acquired 1,420 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $87.91 per share, with a total value of $124,832.20. Following the completion of the purchase, the director now directly owns 7,007 shares in the company, valued at approximately $615,985.37. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.60% of the company’s stock.

AGCO Trading Down 1.8 %

AGCO stock opened at $95.08 on Wednesday. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The firm’s 50 day moving average price is $91.37 and its 200-day moving average price is $102.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72. The stock has a market cap of $7.09 billion, a P/E ratio of 6.43, a PEG ratio of 0.88 and a beta of 1.25.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company 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 was down 15.1% on a year-over-year basis. On average, equities analysts predict that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Announces Dividend

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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, August 15th. AGCO’s dividend payout ratio is presently 7.85%.

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.