Cetera Investment Advisers Reduces Holdings in AGCO Co. (NYSE:AGCO)

Cetera Investment Advisers reduced its stake in AGCO Co. (NYSE:AGCO) by 20.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,060 shares of the industrial products company’s stock after selling 3,635 shares during the period. Cetera Investment Advisers’ holdings in AGCO were worth $1,376,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AGCO shares. JPMorgan Chase & Co. dropped their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. UBS Group reduced their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Raymond James began coverage on shares of AGCO in a research note on Friday, June 28th. They set a “market perform” rating on the stock. BMO Capital Markets initiated coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 target price for the company. Finally, Robert W. Baird lowered their target price on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $117.80.

Insider Activity

In related news, Director Michael C. Arnold bought 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $87.69 per share, with a total value of $157,842.00. Following the transaction, the director now owns 20,465 shares in the company, valued at approximately $1,794,575.85. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Lange Bob De bought 1,420 shares of the firm’s stock in a transaction 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 purchase, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael C. Arnold bought 1,800 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased 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 in the company, valued at $1,794,575.85. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.60% of the stock is owned by corporate insiders.

AGCO Stock Performance

Shares of AGCO opened at $98.79 on Wednesday. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 0.91 and a beta of 1.25. The business’s fifty day simple moving average is $91.99 and its two-hundred day simple moving average is $101.97. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. 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 released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the business earned $4.29 earnings per share. The company’s quarterly revenue was down 15.1% on a year-over-year basis. Research analysts anticipate that AGCO Co. will post 8 earnings per share for the current fiscal year.

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.