Insider Selling: AGCO (AGCO) VP Sells 275 Shares of Stock

AGCO (NYSE:AGCO) VP Lara Thrush Long sold 275 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $66.23, for a total transaction of $18,213.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of AGCO traded down $0.45, hitting $66.61, during trading hours on Wednesday, MarketBeat Ratings reports. The company’s stock had a trading volume of 567,849 shares, compared to its average volume of 743,194. AGCO has a 1-year low of $58.12 and a 1-year high of $75.95. The firm has a market capitalization of $5.41 billion, a P/E ratio of 22.06, a PEG ratio of 1.48 and a beta of 0.84. The company has a quick ratio of 0.65, a current ratio of 1.50 and a debt-to-equity ratio of 0.64.

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AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.23. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.85 billion. AGCO had a net margin of 2.54% and a return on equity of 8.86%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. research analysts expect that AGCO will post 3.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Monday, May 14th. AGCO’s payout ratio is 19.87%.

A number of equities analysts have weighed in on AGCO shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $77.00 price target on shares of AGCO in a research note on Wednesday, April 18th. Morgan Stanley started coverage on shares of AGCO in a research note on Friday, March 2nd. They set an “underweight” rating and a $69.00 price target on the stock. ValuEngine downgraded shares of AGCO from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Goldman Sachs Group downgraded shares of AGCO from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, May 8th. Finally, Citigroup cut their price target on shares of AGCO from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 4th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $72.79.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGCO. UBS Asset Management Americas Inc. grew its holdings in AGCO by 1,020.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,354,033 shares of the industrial products company’s stock valued at $168,149,000 after purchasing an additional 2,143,931 shares in the last quarter. Millennium Management LLC grew its holdings in AGCO by 470.8% during the 4th quarter. Millennium Management LLC now owns 701,499 shares of the industrial products company’s stock valued at $50,108,000 after purchasing an additional 578,604 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in AGCO by 145.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 665,338 shares of the industrial products company’s stock valued at $43,148,000 after purchasing an additional 394,136 shares in the last quarter. BlackRock Inc. grew its holdings in AGCO by 5.9% during the 4th quarter. BlackRock Inc. now owns 6,754,418 shares of the industrial products company’s stock valued at $482,468,000 after purchasing an additional 378,009 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in AGCO by 8.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,789,037 shares of the industrial products company’s stock valued at $199,221,000 after purchasing an additional 223,112 shares in the last quarter. 83.61% of the stock is owned by institutional investors and hedge funds.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

Insider Buying and Selling by Quarter for AGCO (NYSE:AGCO)

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