Daiwa Securities Group Inc. Sells 3,160 Shares of AGCO Co. (NYSE:AGCO)

Daiwa Securities Group Inc. decreased its stake in shares of AGCO Co. (NYSE:AGCO) by 16.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,930 shares of the industrial products company’s stock after selling 3,160 shares during the period. Daiwa Securities Group Inc.’s holdings in AGCO were worth $1,560,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. FinTrust Capital Advisors LLC lifted its position in AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. Manchester Capital Management LLC lifted its position in AGCO by 93.2% during the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 110 shares during the period. LRI Investments LLC purchased a new position in AGCO during the 1st quarter valued at about $30,000. Blue Trust Inc. lifted its position in AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares during the period. Finally, American National Bank purchased a new position in AGCO during the 4th quarter valued at about $37,000. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of NYSE AGCO opened at $90.93 on Friday. The firm has a 50 day moving average of $92.52 and a 200 day moving average of $104.81. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 6.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26.

AGCO (NYSE:AGCO) last announced its earnings results 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 business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.29 earnings per share. On average, research analysts anticipate that AGCO Co. will post 8 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.28%. AGCO’s dividend payout ratio (DPR) is 7.85%.

Insider Activity at AGCO

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

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of recent research reports. UBS Group lowered their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and issued a $118.00 target price (down from $130.00) on shares of AGCO in a report on Wednesday, July 31st. Barclays decreased their target price on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. Oppenheimer decreased their target price on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, Raymond James started coverage on shares of AGCO in a report on Friday, June 28th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $118.91.

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.