AGCO Corporation (NYSE:AGCO) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its stake in shares of AGCO Corporation (NYSE:AGCO) by 82.0% in the first quarter, Holdings Channel reports. The firm owned 4,703 shares of the industrial products company’s stock after selling 21,443 shares during the period. Perigon Wealth Management LLC’s holdings in AGCO were worth $435,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AGCO. SummerHaven Investment Management LLC boosted its stake in AGCO by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 8,241 shares of the industrial products company’s stock worth $763,000 after buying an additional 138 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of AGCO by 2.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 144 shares during the period. Neuberger Berman Group LLC boosted its position in shares of AGCO by 2.3% during the 4th quarter. Neuberger Berman Group LLC now owns 6,552 shares of the industrial products company’s stock valued at $612,000 after acquiring an additional 145 shares during the last quarter. Arizona State Retirement System boosted its position in shares of AGCO by 0.8% during the 4th quarter. Arizona State Retirement System now owns 18,414 shares of the industrial products company’s stock valued at $1,721,000 after acquiring an additional 150 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of AGCO by 4.4% in the fourth quarter. ProShare Advisors LLC now owns 3,635 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AGCO. Baird R W downgraded shares of AGCO from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Wall Street Zen raised AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $116.00 to $100.00 in a research note on Monday, March 3rd. Oppenheimer lowered 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. Finally, Truist Financial reduced their price objective on shares of AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, AGCO has a consensus rating of “Hold” and a consensus price target of $104.10.

Insiders Place Their Bets

In other news, SVP Kelvin Eugene Bennett sold 250 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total transaction of $26,545.00. Following the completion of the sale, the senior vice president directly owned 17,380 shares in the company, valued at $1,845,408.40. This represents a 1.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.90% of the company’s stock.

AGCO Stock Performance

Shares of AGCO opened at $103.20 on Tuesday. AGCO Corporation has a 12-month low of $73.79 and a 12-month high of $108.76. The stock has a market cap of $7.70 billion, a P/E ratio of -13.23, a PEG ratio of 1.86 and a beta of 1.24. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $98.89 and a two-hundred day moving average of $95.99.

AGCO (NYSE:AGCO) last posted its quarterly earnings data 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. AGCO had a positive return on equity of 10.60% and a negative net margin of 5.40%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business posted $2.32 EPS. The firm’s quarterly revenue was down 30.0% compared to the same quarter last year. As a group, research analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, May 15th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.16 annualized dividend and a yield of 1.12%. AGCO’s payout ratio is currently -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.