Hsbc Holdings PLC Cuts Stock Holdings in AGCO Co. (NYSE:AGCO)

Hsbc Holdings PLC lowered its stake in AGCO Co. (NYSE:AGCO) by 7.1% during the 2nd quarter, Holdings Channel reports. The firm owned 23,720 shares of the industrial products company’s stock after selling 1,812 shares during the quarter. Hsbc Holdings PLC’s holdings in AGCO were worth $2,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of AGCO by 11.6% in the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after buying an additional 784,617 shares in the last quarter. Victory Capital Management Inc. increased its stake in AGCO by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,699,964 shares of the industrial products company’s stock worth $362,152,000 after acquiring an additional 63,432 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AGCO by 17.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company’s stock worth $221,187,000 after acquiring an additional 335,092 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of AGCO by 28.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company’s stock worth $175,323,000 after acquiring an additional 391,591 shares in the last quarter. Finally, Mirova US LLC boosted its position in shares of AGCO by 2.0% during the 2nd quarter. Mirova US LLC now owns 1,198,024 shares of the industrial products company’s stock valued at $117,263,000 after acquiring an additional 23,536 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Insider Buying and Selling at AGCO

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

AGCO Stock Up 2.4 %

NYSE:AGCO opened at $96.70 on Friday. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.88 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 current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $91.88 and a 200-day simple moving average of $103.82.

AGCO (NYSE:AGCO) last released 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). The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. AGCO’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period last year, the firm earned $4.29 earnings per share. Analysts anticipate that AGCO Co. will post 8 EPS for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.20%. AGCO’s payout ratio is currently 7.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $118.00 price target (down previously from $130.00) on shares of AGCO in a research note on Wednesday, July 31st. BMO Capital Markets began coverage on shares of AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price target for the company. Raymond James started coverage on AGCO in a research note on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Barclays dropped their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.