AGCO (NYSE:AGCO) SVP Sells 15,000 Shares of Stock

AGCO Corporation (NYSE:AGCO) SVP Torsten Dehner sold 15,000 shares of AGCO stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $112.50, for a total transaction of $1,687,500.00. Following the sale, the senior vice president directly owned 19,589 shares in the company, valued at $2,203,762.50. This trade represents a 43.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Torsten Rudolf Willi Dehner also recently made the following trade(s):

• On Friday, November 6th, Torsten Dehner sold 12,393 shares of AGCO stock. The stock was sold at an average price of $110.00, for a total transaction of $1,363,230.00.

AGCO Price Performance

Shares of NYSE:AGCO opened at $116.60 on Tuesday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 0.86 and a beta of 1.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $114.26 and a 200 day simple moving average of $116.30. AGCO Corporation has a one year low of $98.22 and a one year high of $143.78.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, October 29th. The industrial products company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.32 billion. AGCO had a net margin of 2.76% and a return on equity of 9.66%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.35 earnings per share. Research analysts predict that AGCO Corporation will post 5.49 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, November 16th. AGCO’s dividend payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AGCO. JPMorgan Chase & Co. raised their price objective on AGCO from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Oppenheimer reaffirmed an “outperform” rating on shares of AGCO in a report on Friday, October 30th. Morgan Stanley increased their target price on AGCO from $99.00 to $113.00 and gave the company an “underweight” rating in a research report on Wednesday, November 4th. Truist Financial reissued a “buy” rating and set a $136.00 price target (down from $146.00) on shares of AGCO in a research note on Monday, November 2nd. Finally, Wall Street Zen lowered AGCO from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.67.

Hedge Funds Weigh In On AGCO

Several institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of AGCO in the 2nd quarter worth about $1,239,000. The Manufacturers Life Insurance Company grew its stake in AGCO by 27.0% during the first quarter. The Manufacturers Life Insurance Company now owns 126,234 shares of the industrial products company’s stock worth $14,626,000 after purchasing an additional 26,862 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in AGCO during the second quarter worth approximately $2,216,000. Corient Private Wealth LP increased its holdings in AGCO by 21.5% in the second quarter. Corient Private Wealth LP now owns 99,102 shares of the industrial products company’s stock worth $11,863,000 after purchasing an additional 17,562 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in AGCO by 19.4% in the first quarter. Bank of America Corp DE now owns 543,955 shares of the industrial products company’s stock worth $63,028,000 after purchasing an additional 88,571 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

About AGCO

AGCO Corporation designs, manufactures and distributes agricultural equipment and technology for farmers around the world. Its products include tractors, combines, hay and forage equipment, sprayers, seeding and tillage equipment, grain storage systems, and precision agriculture solutions.

The company’s brands include Fendt, Massey Ferguson, Valtra, and PTx, its precision agriculture business. AGCO was formed in 1990 and is headquartered in Duluth, Georgia.

AGCO serves agricultural markets globally through a network of dealers and other distribution partners.