Bank of Montreal Can Lowers Stake in AGCO Co. (NYSE:AGCO)

Bank of Montreal Can reduced its stake in shares of AGCO Co. (NYSE:AGCO) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,015,437 shares of the industrial products company’s stock after selling 29,593 shares during the quarter. Bank of Montreal Can’s holdings in AGCO were worth $100,031,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AGCO. Lombard Odier Asset Management Europe Ltd purchased a new stake in AGCO in the second quarter worth about $1,472,000. Magnetar Financial LLC purchased a new stake in AGCO in the second quarter worth about $1,332,000. 1832 Asset Management L.P. lifted its stake in AGCO by 238,650.0% in the second quarter. 1832 Asset Management L.P. now owns 57,300 shares of the industrial products company’s stock worth $5,609,000 after acquiring an additional 57,276 shares during the period. Westwood Holdings Group Inc. lifted its stake in AGCO by 2.6% in the second quarter. Westwood Holdings Group Inc. now owns 185,177 shares of the industrial products company’s stock worth $18,125,000 after acquiring an additional 4,714 shares during the period. Finally, Sei Investments Co. lifted its stake in AGCO by 49.8% in the second quarter. Sei Investments Co. now owns 95,636 shares of the industrial products company’s stock worth $9,361,000 after acquiring an additional 31,805 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

AGCO Stock Performance

AGCO opened at $96.33 on Wednesday. AGCO Co. has a 52-week low of $84.35 and a 52-week 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. The company has a market cap of $7.19 billion, a P/E ratio of 6.52, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. The firm’s 50-day moving average price is $92.15 and its 200-day moving average price is $103.94.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (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 company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the company earned $4.29 EPS. The business’s revenue was down 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that AGCO Co. will post 8 EPS for the current fiscal year.

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.20%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts recently weighed in on AGCO shares. Truist Financial reaffirmed a “buy” rating and issued a $118.00 price objective (down from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. UBS Group lowered their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Raymond James started coverage on shares of AGCO in a research report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup started coverage on shares of AGCO in a research report on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target for the company. Finally, Oppenheimer decreased their price target on shares of AGCO from $133.00 to $132.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO has an average rating of “Hold” and an average price target of $118.91.

AGCO 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.