AGCO Co. (NYSE:AGCO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in shares of AGCO Co. (NYSE:AGCO) by 80.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,743 shares of the industrial products company’s stock after selling 136,893 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AGCO were worth $3,302,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AGCO. Pacer Advisors Inc. boosted its position in shares of AGCO by 103.5% in the 2nd quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock valued at $153,814,000 after purchasing an additional 799,429 shares during the period. Vanguard Group Inc. boosted its position in shares of AGCO by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock valued at $930,660,000 after purchasing an additional 784,617 shares during the period. AQR Capital Management LLC boosted its position in shares of AGCO by 53.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after purchasing an additional 605,509 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of AGCO by 28.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock valued at $175,323,000 after purchasing an additional 391,591 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock valued at $221,187,000 after purchasing an additional 335,092 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AGCO

In related news, Director Michael C. Arnold bought 1,800 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the acquisition, the director now owns 20,465 shares in the company, valued at $1,794,575.85. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AGCO news, Director Michael C. Arnold acquired 1,800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the acquisition, the director now directly owns 20,465 shares of the company’s stock, valued at $1,794,575.85. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lange Bob De acquired 1,420 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the acquisition, the director now directly owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.60% of the stock is currently owned by company insiders.

AGCO Stock Performance

NYSE AGCO opened at $100.22 on Wednesday. AGCO Co. has a 1-year low of $84.35 and a 1-year high of $130.26. The company has a market capitalization of $7.48 billion, a P/E ratio of 6.78, a PEG ratio of 0.91 and a beta of 1.25. The business has a 50 day moving average price of $94.53 and a 200 day moving average price of $100.40. 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 released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the business earned $4.29 earnings per share. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. Sell-side analysts expect that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on AGCO. Robert W. Baird decreased their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Citigroup increased their price objective on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, BMO Capital Markets assumed coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $117.80.

AGCO Company 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.