US Bancorp DE Increases Stock Position in AGCO Corporation (NYSE:AGCO)

US Bancorp DE grew its holdings in shares of AGCO Corporation (NYSE:AGCO) by 17.7% in the first quarter, Holdings Channel.com reports. The firm owned 2,186 shares of the industrial products company’s stock after buying an additional 328 shares during the period. US Bancorp DE’s holdings in AGCO were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AGCO. GeoWealth Management LLC purchased a new position in shares of AGCO in the fourth quarter valued at $27,000. Citizens National Bank Trust Department raised its stake in shares of AGCO by 400.0% during the 1st quarter. Citizens National Bank Trust Department now owns 300 shares of the industrial products company’s stock worth $28,000 after buying an additional 240 shares during the period. Abound Wealth Management purchased a new stake in shares of AGCO during the first quarter worth approximately $56,000. UMB Bank n.a. grew its holdings in shares of AGCO by 140.7% during the 1st quarter. UMB Bank n.a. now owns 811 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 474 shares during the period. Finally, GAMMA Investing LLC raised its position in AGCO by 66.9% in the 1st quarter. GAMMA Investing LLC now owns 908 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 364 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Trading Up 0.7%

NYSE AGCO opened at $112.20 on Friday. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16. The company has a current ratio of 1.48, a quick ratio of 0.67 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $8.37 billion, a PE ratio of 83.73, a P/E/G ratio of 1.74 and a beta of 1.21. The stock has a 50-day simple moving average of $107.82 and a 200 day simple moving average of $99.33.

AGCO (NYSE:AGCO) last released its earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%. AGCO’s revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.53 earnings per share. Research analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. AGCO’s dividend payout ratio (DPR) is currently 86.57%.

AGCO announced that its board has approved a share repurchase program on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AGCO has been the topic of several analyst reports. Oppenheimer lifted their target price on AGCO from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on AGCO from $130.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Citigroup reiterated a “neutral” rating and issued a $110.00 price target on shares of AGCO in a report on Friday, May 30th. Wall Street Zen upgraded AGCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, UBS Group restated a “neutral” rating and issued a $119.00 price objective (up previously from $100.00) on shares of AGCO in a report on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, AGCO presently has an average rating of “Hold” and a consensus price target of $109.63.

Insider Transactions at AGCO

In other news, SVP Luis Fernando Sartini Felli sold 10,000 shares of AGCO stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the completion of the transaction, the senior vice president directly owned 16,189 shares of the company’s stock, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.60% of the stock is currently owned by corporate 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.