Meitav Dash Investments Ltd. Trims Holdings in AGCO Co. (NYSE:AGCO)

Meitav Dash Investments Ltd. cut its holdings in AGCO Co. (NYSE:AGCOGet Rating) by 30.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,060 shares of the industrial products company’s stock after selling 21,756 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in AGCO were worth $7,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AGCO. New York State Common Retirement Fund boosted its stake in AGCO by 2.1% in the 4th quarter. New York State Common Retirement Fund now owns 65,192 shares of the industrial products company’s stock worth $7,564,000 after purchasing an additional 1,312 shares in the last quarter. Banco Santander S.A. boosted its stake in AGCO by 25.8% in the 4th quarter. Banco Santander S.A. now owns 7,410 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 1,520 shares in the last quarter. Wright Investors Service Inc. bought a new position in AGCO in the 1st quarter worth about $1,038,000. Schroder Investment Management Group boosted its stake in AGCO by 599.3% in the 4th quarter. Schroder Investment Management Group now owns 69,096 shares of the industrial products company’s stock worth $8,016,000 after purchasing an additional 59,215 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in AGCO by 23.0% in the 4th quarter. First Horizon Advisors Inc. now owns 1,267 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 237 shares in the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Oppenheimer dropped their price target on shares of AGCO from $169.00 to $156.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 5th. Citigroup lowered their target price on shares of AGCO from $150.00 to $105.00 in a research note on Thursday, July 7th. Credit Suisse Group set a $128.00 target price on shares of AGCO in a research note on Tuesday, July 19th. Morgan Stanley lowered their target price on shares of AGCO from $129.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AGCO from $178.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.83.

Insider Buying and Selling at AGCO

In other AGCO news, CAO Lara Thrush Long sold 939 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $105.50, for a total transaction of $99,064.50. Following the completion of the sale, the chief accounting officer now directly owns 1,491 shares of the company’s stock, valued at approximately $157,300.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Lara Thrush Long sold 939 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $105.50, for a total transaction of $99,064.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,491 shares in the company, valued at approximately $157,300.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew H. Beck sold 19,335 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $106.74, for a total value of $2,063,817.90. Following the transaction, the chief executive officer now owns 88,002 shares of the company’s stock, valued at $9,393,333.48. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

AGCO Trading Down 0.1 %

AGCO stock opened at $106.21 on Friday. The firm has a 50 day moving average of $106.75 and a 200 day moving average of $120.96. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.95 and a beta of 1.38. AGCO Co. has a 12-month low of $88.55 and a 12-month high of $150.28. The company has a current ratio of 1.57, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCOGet Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.26. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.92 billion. AGCO had a net margin of 6.89% and a return on equity of 22.54%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 EPS. As a group, research analysts predict that AGCO Co. will post 11.88 earnings per share for the current year.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, August 12th. AGCO’s dividend payout ratio (DPR) is currently 9.10%.

AGCO Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding AGCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGCO Co. (NYSE:AGCOGet Rating).

Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

Receive News & Ratings for AGCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO and related companies with MarketBeat.com's FREE daily email newsletter.