Victory Capital Management Inc. Raises Position in AGCO Co. (NYSE:AGCO)

Victory Capital Management Inc. lifted its stake in shares of AGCO Co. (NYSE:AGCO) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,699,964 shares of the industrial products company’s stock after buying an additional 63,432 shares during the period. Victory Capital Management Inc.’s holdings in AGCO were worth $362,152,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AGCO. Chase Investment Counsel Corp purchased a new position in AGCO during the 2nd quarter worth $1,114,000. Impact Partnership Wealth LLC lifted its position in shares of AGCO by 99,625.0% during the second quarter. Impact Partnership Wealth LLC now owns 3,989 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 3,985 shares in the last quarter. Hodges Capital Management Inc. boosted its holdings in AGCO by 0.8% during the second quarter. Hodges Capital Management Inc. now owns 17,520 shares of the industrial products company’s stock worth $1,715,000 after purchasing an additional 143 shares during the last quarter. CIBC Asset Management Inc grew its position in AGCO by 18.6% in the 2nd quarter. CIBC Asset Management Inc now owns 2,088 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 327 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in AGCO by 0.4% in the 2nd quarter. Natixis Advisors LLC now owns 38,750 shares of the industrial products company’s stock valued at $3,793,000 after buying an additional 145 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

AGCO Price Performance

AGCO opened at $88.80 on Friday. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 0.85 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $93.37 and a 200-day moving average price of $105.58. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.48.

AGCO (NYSE:AGCO) last issued its 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 business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the firm earned $4.29 EPS. The company’s revenue was down 15.1% compared to the same quarter last year. Equities analysts expect that AGCO Co. will post 8 EPS for the current year.

AGCO Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.31%. AGCO’s dividend payout ratio is currently 7.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AGCO. Robert W. Baird cut their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer cut their price objective on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Raymond James started coverage on AGCO in a research report on Friday, June 28th. They set a “market perform” rating for the company. UBS Group lowered their target price on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $118.91.

Insider Buying and Selling at AGCO

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

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.