290,814 Shares in AGCO Co. (NYSE:AGCO) Bought by Millennium Management LLC

Millennium Management LLC acquired a new position in shares of AGCO Co. (NYSE:AGCO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 290,814 shares of the industrial products company’s stock, valued at approximately $27,185,000. Millennium Management LLC owned about 0.39% of AGCO as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AGCO. Allworth Financial LP grew its position in AGCO by 333.3% during the fourth quarter. Allworth Financial LP now owns 286 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 220 shares during the last quarter. GeoWealth Management LLC bought a new position in shares of AGCO during the 4th quarter valued at $27,000. UMB Bank n.a. raised its position in AGCO by 84.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares during the period. Cullen Frost Bankers Inc. bought a new stake in AGCO in the fourth quarter worth $33,000. Finally, Jones Financial Companies Lllp boosted its position in AGCO by 112.3% during the fourth quarter. Jones Financial Companies Lllp now owns 501 shares of the industrial products company’s stock valued at $47,000 after buying an additional 265 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Trading Down 1.2%

NYSE:AGCO opened at $107.16 on Tuesday. The company has a 50 day simple moving average of $90.79 and a two-hundred day simple moving average of $94.90. The company has a market cap of $7.99 billion, a PE ratio of -18.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. AGCO Co. has a 12 month low of $73.79 and a 12 month high of $110.49.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.38. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. AGCO’s revenue for the quarter was down 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share. Research analysts forecast that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 annualized dividend and a yield of 1.08%. AGCO’s dividend payout ratio (DPR) is presently -14.87%.

Insider Activity at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total transaction of $26,545.00. Following the completion of the sale, the senior vice president now owns 17,380 shares in the company, valued at approximately $1,845,408.40. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AGCO has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of AGCO from $75.00 to $84.00 and gave the company an “underweight” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. lifted their price objective on AGCO from $110.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. Baird R W cut shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Oppenheimer decreased their price objective on shares of AGCO from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $103.30.

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.