Raymond James & Associates Acquires 58,160 Shares of AGCO Co. (NYSE:AGCO)

Raymond James & Associates grew its holdings in shares of AGCO Co. (NYSE:AGCO) by 50.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 173,669 shares of the industrial products company’s stock after purchasing an additional 58,160 shares during the period. Raymond James & Associates’ holdings in AGCO were worth $16,995,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of AGCO by 189.0% during the third quarter. Blue Trust Inc. now owns 994 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 650 shares during the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of AGCO by 42.3% during the third quarter. Stratos Wealth Advisors LLC now owns 17,064 shares of the industrial products company’s stock valued at $1,670,000 after acquiring an additional 5,069 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of AGCO by 2,400.0% during the third quarter. Trust Co. of Vermont now owns 550 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 528 shares during the last quarter. Bfsg LLC raised its stake in AGCO by 0.9% during the third quarter. Bfsg LLC now owns 18,007 shares of the industrial products company’s stock worth $1,762,000 after buying an additional 156 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in AGCO by 6.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 20,726 shares of the industrial products company’s stock worth $2,028,000 after buying an additional 1,181 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Citigroup raised their price target on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird reduced their price target on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, 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 report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, AGCO has an average rating of “Hold” and an average target price of $117.80.

AGCO Stock Up 0.3 %

Shares of NYSE AGCO opened at $100.42 on Friday. The stock has a market capitalization of $7.49 billion, a P/E ratio of 6.79, a P/E/G ratio of 0.91 and a beta of 1.25. The company has a 50-day moving average price of $94.29 and a 200-day moving average price of $100.72. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72.

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

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Insider Buying and Selling

In other news, Director Michael C. Arnold purchased 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $87.69 per share, for a total transaction 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Michael C. Arnold acquired 1,800 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $87.69 per share, with a total value of $157,842.00. Following the completion of the transaction, the director now owns 20,465 shares in the company, valued at approximately $1,794,575.85. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lange Bob De acquired 1,420 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $87.91 per share, for a total transaction of $124,832.20. Following the transaction, the director now owns 7,007 shares of the company’s stock, valued at approximately $615,985.37. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.60% of the stock is 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.