May 24, 2024

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Raymond James Financial Services Advisors Inc. Has $307,000 Stake in AGCO Co. (NYSE:AGCO)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of AGCO Co. (NYSE:AGCO – Get Rating) by 68.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,190 shares of the industrial products company’s stock after selling 6,837 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in AGCO were worth $307,000 at the end of the most recent reporting period.

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Several other large investors have also bought and sold shares of the business. Strs Ohio increased its stake in AGCO by 6.3% in the second quarter. Strs Ohio now owns 10,243 shares of the industrial products company’s stock valued at $1,010,000 after purchasing an additional 608 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in AGCO by 68.8% in the second quarter. CHICAGO TRUST Co NA now owns 2,625 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 1,070 shares in the last quarter. Xponance Inc. increased its stake in AGCO by 9.0% in the second quarter. Xponance Inc. now owns 8,026 shares of the industrial products company’s stock valued at $792,000 after purchasing an additional 661 shares in the last quarter. Texas Permanent School Fund increased its stake in AGCO by 1.6% in the second quarter. Texas Permanent School Fund now owns 44,208 shares of the industrial products company’s stock valued at $4,363,000 after purchasing an additional 704 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its stake in AGCO by 117.4% in the second quarter. Hodges Capital Management Inc. now owns 10,801 shares of the industrial products company’s stock valued at $1,066,000 after purchasing an additional 5,832 shares in the last quarter. 75.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on AGCO. Wells Fargo & Company upped their target price on shares of AGCO from $165.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Credit Suisse Group raised their price objective on shares of AGCO from $143.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, December 22nd. Morgan Stanley raised their price objective on shares of AGCO from $119.00 to $129.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 14th. Stifel Nicolaus raised their price objective on shares of AGCO from $150.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, January 18th. Finally, Citigroup raised their price objective on shares of AGCO to $150.00 in a report on Wednesday, December 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.70.

AGCO Stock Performance

Shares of AGCO opened at $138.76 on Friday. The firm has a 50-day moving average of $134.81 and a 200-day moving average of $118.14. AGCO Co. has a one year low of $88.55 and a one year high of $150.28. The company has a market cap of $10.35 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 0.66.

AGCO (NYSE:AGCO – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The industrial products company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.06. AGCO had a net margin of 7.13% and a return on equity of 23.61%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the firm posted $2.41 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that AGCO Co. will post 11.86 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, February 14th. AGCO’s dividend payout ratio (DPR) is presently 8.47%.

Insider Buying and Selling

In related news, Director George E. Minnich sold 1,500 shares of AGCO stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $123.70, for a total transaction of $185,550.00. Following the completion of the sale, the director now owns 12,543 shares of the company’s stock, valued at approximately $1,551,569.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 17.40% of the stock is currently owned by insiders.

About AGCO

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AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America, South America, Europe and Middle East, and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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