Wedge Capital Management L L P NC Sells 13,426 Shares of AGCO Co. (NYSE:AGCO)

Wedge Capital Management L L P NC lowered its holdings in shares of AGCO Co. (NYSE:AGCO) by 11.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 106,090 shares of the industrial products company’s stock after selling 13,426 shares during the period. Wedge Capital Management L L P NC owned 0.14% of AGCO worth $9,821,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AGCO. Price T Rowe Associates Inc. MD raised its position in shares of AGCO by 128.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock valued at $608,026,000 after buying an additional 3,654,350 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of AGCO by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company’s stock valued at $278,951,000 after buying an additional 258,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AGCO by 534.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock valued at $271,259,000 after buying an additional 2,444,615 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of AGCO by 1.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company’s stock valued at $256,522,000 after buying an additional 39,966 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in AGCO by 68.7% during the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after purchasing an additional 961,081 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AGCO. Baird R W cut AGCO from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer decreased their price target on AGCO from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen upgraded AGCO from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. Morgan Stanley increased their price target on AGCO from $75.00 to $84.00 and gave the stock an “underweight” rating in a report on Monday, May 12th. Finally, UBS Group set a $106.00 target price on AGCO in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.10.

Insider Buying and Selling

In related news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total value of $26,545.00. Following the completion of the transaction, the senior vice president now directly owns 17,380 shares in the company, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.60% of the stock is currently owned by insiders.

AGCO Price Performance

AGCO stock opened at $100.97 on Monday. AGCO Co. has a 52 week low of $73.79 and a 52 week high of $108.76. The company’s 50 day moving average price is $92.58 and its two-hundred day moving average price is $95.68. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a market cap of $7.53 billion, a P/E ratio of -17.74, a P/E/G ratio of 1.80 and a beta of 1.24.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.38. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.06 billion. AGCO had a negative net margin of 3.64% and a positive return on equity of 13.40%. AGCO’s revenue was down 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 EPS. On average, equities analysts predict that AGCO Co. will post 4.2 earnings per share for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.15%. AGCO’s dividend payout ratio (DPR) is presently -14.87%.

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.