Mackenzie Financial Corp Boosts Stock Position in AGCO Co. (NYSE:AGCO)

Mackenzie Financial Corp raised its position in AGCO Co. (NYSE:AGCO) by 12.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 823,991 shares of the industrial products company’s stock after acquiring an additional 89,763 shares during the quarter. Mackenzie Financial Corp’s holdings in AGCO were worth $80,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of AGCO by 103.5% in the second quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company’s stock valued at $153,814,000 after acquiring an additional 799,429 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AGCO by 11.6% during 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. AQR Capital Management LLC raised its holdings in AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company’s stock valued at $171,090,000 after acquiring an additional 605,509 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in AGCO by 28.0% in the second 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 during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 valued at $221,187,000 after purchasing an additional 335,092 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AGCO. Robert W. Baird cut their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group reduced their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Raymond James began coverage on AGCO in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, UBS Group dropped their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.91.

AGCO Stock Up 1.7 %

Shares of NYSE:AGCO opened at $98.36 on Friday. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 0.88 and a beta of 1.25. The firm’s 50-day simple moving average is $91.80 and its 200-day simple moving average is $103.71. 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 Co. has a fifty-two week low of $84.35 and a fifty-two week high of $130.26.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). The business 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 revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.29 EPS. As a group, equities research analysts predict that AGCO Co. will post 8 earnings per share for the current year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, August 15th. AGCO’s payout ratio is 7.85%.

Insiders Place Their Bets

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

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.