Shayne & Jacobs LLC Raises Holdings in AGCO Co. (NYSE:AGCO)

Shayne & Jacobs LLC increased its holdings in AGCO Co. (NYSE:AGCO) by 42.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 22,380 shares of the industrial products company’s stock after acquiring an additional 6,700 shares during the period. AGCO makes up about 0.5% of Shayne & Jacobs LLC’s holdings, making the stock its 25th largest holding. Shayne & Jacobs LLC’s holdings in AGCO were worth $2,190,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AGCO. Sei Investments Co. lifted its stake in AGCO by 28.6% during the first quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after purchasing an additional 14,201 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in AGCO by 30.0% during the second quarter. Great Valley Advisor Group Inc. now owns 31,039 shares of the industrial products company’s stock worth $3,038,000 after purchasing an additional 7,171 shares in the last quarter. Acadian Asset Management LLC lifted its stake in AGCO by 575.9% during the first quarter. Acadian Asset Management LLC now owns 41,664 shares of the industrial products company’s stock worth $5,125,000 after purchasing an additional 35,500 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in AGCO by 146.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,658 shares of the industrial products company’s stock worth $10,538,000 after purchasing an additional 50,892 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in AGCO by 377.0% during the first quarter. Cetera Investment Advisers now owns 17,695 shares of the industrial products company’s stock worth $2,177,000 after purchasing an additional 13,985 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Stock Performance

NYSE:AGCO opened at $100.42 on Friday. The business’s fifty day moving average price is $94.29 and its 200 day moving average price is $100.88. The firm has a market capitalization of $7.49 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.91 and a beta of 1.25. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.90 by ($0.37). The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.29 EPS. On average, sell-side analysts anticipate that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th. AGCO’s payout ratio is 7.85%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently issued reports on AGCO. UBS Group reduced their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Truist Financial increased their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird reduced their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.80.

AGCO 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.