Davis Selected Advisers Increases Stake in AGCO Co. (NYSE:AGCO)

Davis Selected Advisers increased its holdings in AGCO Co. (NYSE:AGCO) by 0.1% in the second quarter, Holdings Channel reports. The fund owned 1,357,633 shares of the industrial products company’s stock after purchasing an additional 974 shares during the quarter. AGCO accounts for approximately 0.8% of Davis Selected Advisers’ portfolio, making the stock its 25th largest position. Davis Selected Advisers’ holdings in AGCO were worth $132,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGCO. Ontario Teachers Pension Plan Board lifted its position in shares of AGCO by 30.0% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 32,629 shares of the industrial products company’s stock worth $3,961,000 after purchasing an additional 7,539 shares during the period. UBS Group AG boosted its position in AGCO by 106.8% during the 4th quarter. UBS Group AG now owns 192,140 shares of the industrial products company’s stock valued at $23,328,000 after acquiring an additional 99,212 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of AGCO by 176.1% in the 4th quarter. Corient Private Wealth LLC now owns 21,873 shares of the industrial products company’s stock valued at $2,656,000 after acquiring an additional 13,952 shares during the period. Cim LLC purchased a new position in shares of AGCO in the 4th quarter valued at $994,000. Finally, Sei Investments Co. raised its position in shares of AGCO by 28.6% in the 1st quarter. Sei Investments Co. now owns 63,831 shares of the industrial products company’s stock worth $7,853,000 after acquiring an additional 14,201 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors.

AGCO Stock Performance

Shares of AGCO stock traded up $0.50 on Monday, reaching $88.06. 18,696 shares of the stock were exchanged, compared to its average volume of 776,094. The business has a 50 day moving average price of $93.16 and a two-hundred day moving average price of $105.41. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.82 and a beta of 1.25. AGCO Co. has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. The firm’s revenue was down 15.1% on a year-over-year basis. During the same period last year, the company earned $4.29 earnings per share. Analysts anticipate that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 15th. AGCO’s dividend payout ratio is currently 7.85%.

Insider Buying and Selling at AGCO

In other news, Director Lange Bob De bought 1,420 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $87.91 per share, with a total value of $124,832.20. Following the acquisition, the director now directly owns 7,007 shares in the company, valued at $615,985.37. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Lange Bob De purchased 1,420 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $87.91 per share, with a total value of $124,832.20. Following the completion of the acquisition, the director now owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Arnold acquired 1,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $87.69 per share, with a total value of $157,842.00. Following the acquisition, the director now directly owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. The disclosure for this purchase can be found here. 16.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets started coverage on AGCO in a research report on Friday, August 9th. They set a “market perform” rating and a $96.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Truist Financial restated a “buy” rating and issued a $118.00 target price (down from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, UBS Group decreased their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $118.91.

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.