Mutual of America Capital Management LLC Sells 841 Shares of AGCO Corporation (NYSE:AGCO)

Mutual of America Capital Management LLC reduced its position in AGCO Corporation (NYSE:AGCO) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,886 shares of the industrial products company’s stock after selling 841 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AGCO were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of AGCO by 128.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,504,328 shares of the industrial products company’s stock worth $608,026,000 after purchasing an additional 3,654,350 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AGCO by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,984,081 shares of the industrial products company’s stock worth $278,951,000 after purchasing an additional 258,054 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AGCO by 534.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,901,790 shares of the industrial products company’s stock worth $271,259,000 after purchasing an additional 2,444,615 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of AGCO by 1.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,744,133 shares of the industrial products company’s stock worth $256,522,000 after purchasing an additional 39,966 shares during the period. Finally, Invesco Ltd. boosted its position in shares of AGCO by 68.7% in the fourth quarter. Invesco Ltd. now owns 2,360,301 shares of the industrial products company’s stock worth $220,641,000 after purchasing an additional 961,081 shares during the period. 78.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of AGCO from $91.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. Truist Financial dropped their target price on shares of AGCO from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Oppenheimer restated an “outperform” rating and set a $115.00 target price (up previously from $108.00) on shares of AGCO in a research report on Tuesday. Citigroup restated a “neutral” rating and set a $110.00 target price on shares of AGCO in a research report on Friday, May 30th. Finally, Morgan Stanley upped their target price on shares of AGCO from $75.00 to $84.00 and gave the stock an “underweight” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.89.

AGCO Price Performance

Shares of NYSE:AGCO opened at $107.05 on Friday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -13.72, a P/E/G ratio of 1.93 and a beta of 1.24. The firm has a fifty day moving average price of $104.26 and a 200 day moving average price of $97.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.53. AGCO Corporation has a fifty-two week low of $73.79 and a fifty-two week high of $116.25.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.38. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.06 billion. AGCO had a negative net margin of 5.40% and a positive return on equity of 10.60%. AGCO’s revenue was down 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.32 earnings per share. As a group, sell-side analysts expect that AGCO Corporation will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, August 15th. AGCO’s payout ratio is -14.87%.

AGCO announced that its board has initiated a share buyback plan on Wednesday, July 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 12.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at AGCO

In related news, SVP Kelvin Eugene Bennett sold 250 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $106.18, for a total transaction of $26,545.00. Following the sale, the senior vice president owned 17,380 shares of the company’s stock, valued at $1,845,408.40. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.60% of the stock is currently owned by insiders.

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.