Mirae Asset Global Investments Co. Ltd. Acquires 308 Shares of AGCO Co. (NYSE:AGCO)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AGCO Co. (NYSE:AGCO) by 58.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 836 shares of the industrial products company’s stock after purchasing an additional 308 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AGCO were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AGCO. FinTrust Capital Advisors LLC increased its stake in AGCO by 121.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after buying an additional 117 shares during the period. Manchester Capital Management LLC increased its stake in AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the period. LRI Investments LLC purchased a new position in AGCO in the 1st quarter worth about $30,000. Blue Trust Inc. increased 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 purchasing an additional 174 shares during the period. Finally, First Horizon Advisors Inc. increased its position in AGCO by 69.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 167 shares during the period. Institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of AGCO stock opened at $97.87 on Tuesday. The firm’s fifty day simple moving average is $95.51 and its 200-day simple moving average is $99.77. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 0.95 and a beta of 1.25. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.19%. AGCO’s dividend payout ratio is currently 20.71%.

Insider Buying and Selling at AGCO

In other news, Director Michael C. Arnold acquired 1,800 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $87.69 per share, with a total value of $157,842.00. Following the purchase, the director now owns 20,465 shares of the company’s stock, valued at $1,794,575.85. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AGCO has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Oppenheimer lowered their target price on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. StockNews.com cut shares of AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets assumed coverage on shares of 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 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.80.

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.