Wakefield Asset Management LLLP Takes $2.15 Million Position in AGCO Co. (NYSE:AGCO)

Wakefield Asset Management LLLP purchased a new stake in shares of AGCO Co. (NYSE:AGCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 16,492 shares of the industrial products company’s stock, valued at approximately $2,150,000.

Several other institutional investors have also recently made changes to their positions in AGCO. Ameriprise Financial Inc. lifted its holdings in shares of AGCO by 63.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,005,063 shares of the industrial products company’s stock valued at $144,375,000 after buying an additional 389,929 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of AGCO by 273.5% during the 1st quarter. Lazard Asset Management LLC now owns 522,063 shares of the industrial products company’s stock valued at $74,993,000 after buying an additional 382,270 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in AGCO by 712.5% in the 1st quarter. Allianz Asset Management GmbH now owns 413,032 shares of the industrial products company’s stock worth $59,332,000 after purchasing an additional 362,199 shares during the last quarter. BlackRock Inc. lifted its holdings in AGCO by 5.5% in the 1st quarter. BlackRock Inc. now owns 5,539,584 shares of the industrial products company’s stock worth $795,759,000 after purchasing an additional 288,430 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in AGCO by 2,120.3% in the 2nd quarter. American Century Companies Inc. now owns 301,808 shares of the industrial products company’s stock worth $39,350,000 after purchasing an additional 288,215 shares during the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.

In other AGCO news, SVP Kelvin Eugene Bennett sold 1,750 shares of the stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $138.37, for a total value of $242,147.50. Following the transaction, the senior vice president now owns 7,746 shares of the company’s stock, valued at $1,071,814.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Hans Bernd Veltmaat sold 5,050 shares of the stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $138.28, for a total value of $698,314.00. Following the completion of the transaction, the senior vice president now directly owns 125,590 shares in the company, valued at approximately $17,366,585.20. The disclosure for this sale can be found here. Corporate insiders own 17.40% of the company’s stock.

Several research firms recently weighed in on AGCO. JPMorgan Chase & Co. upgraded AGCO from a “neutral” rating to an “overweight” rating and set a $164.00 target price for the company in a report on Tuesday, July 13th. Deutsche Bank Aktiengesellschaft cut their price target on AGCO from $187.00 to $141.00 and set a “buy” rating for the company in a report on Wednesday, July 14th. Morgan Stanley upped their price target on AGCO from $161.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Credit Suisse Group upped their price target on AGCO from $160.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Finally, The Goldman Sachs Group upgraded AGCO from a “neutral” rating to a “buy” rating and set a $161.00 price objective on the stock in a research report on Tuesday, August 24th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $144.07.

Shares of AGCO stock traded up $2.18 during trading hours on Wednesday, hitting $130.00. 3,883 shares of the company’s stock were exchanged, compared to its average volume of 644,447. The stock’s 50-day moving average is $132.07 and its 200-day moving average is $136.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.31 and a quick ratio of 0.57. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33. AGCO Co. has a 52 week low of $69.68 and a 52 week high of $158.62.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, July 29th. The industrial products company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.17 by $0.71. AGCO had a return on equity of 21.26% and a net margin of 6.94%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Equities research analysts forecast that AGCO Co. will post 9.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Monday, August 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, August 13th. AGCO’s dividend payout ratio (DPR) is presently 14.26%.

AGCO Company Profile

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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