Abound Wealth Management Makes New $56,000 Investment in AGCO Co. (NYSE:AGCO)

Abound Wealth Management acquired a new position in shares of AGCO Co. (NYSE:AGCO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 600 shares of the industrial products company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alberta Investment Management Corp increased its stake in shares of AGCO by 98.5% in the fourth quarter. Alberta Investment Management Corp now owns 49,020 shares of the industrial products company’s stock valued at $4,582,000 after buying an additional 24,320 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of AGCO by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,669 shares of the industrial products company’s stock valued at $43,905,000 after buying an additional 15,531 shares in the last quarter. LPL Financial LLC increased its stake in shares of AGCO by 4.9% in the fourth quarter. LPL Financial LLC now owns 21,812 shares of the industrial products company’s stock valued at $2,135,000 after buying an additional 1,016 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of AGCO by 12.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,692 shares of the industrial products company’s stock valued at $1,467,000 after buying an additional 1,788 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of AGCO by 2.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,207 shares of the industrial products company’s stock valued at $580,000 after buying an additional 144 shares in the last quarter. 78.80% of the stock is currently owned by institutional investors and hedge funds.

AGCO Stock Down 0.4%

NYSE:AGCO opened at $100.51 on Monday. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of -17.66, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. AGCO Co. has a twelve month low of $73.79 and a twelve month high of $108.76. The stock’s 50 day moving average price is $94.61 and its two-hundred day moving average price is $95.73. The company has a quick ratio of 0.63, a current ratio of 1.34 and a debt-to-equity ratio of 0.60.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.38. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.06 billion. AGCO had a positive return on equity of 13.40% and a negative net margin of 3.64%. The business’s quarterly revenue was down 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.32 EPS. Equities research analysts expect that AGCO Co. will post 4.2 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.15%. AGCO’s dividend payout ratio is currently -14.87%.

Insider Transactions at AGCO

In other news, SVP Kelvin Eugene Bennett sold 250 shares of AGCO stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $106.18, for a total transaction of $26,545.00. Following the completion of the transaction, the senior vice president now directly owns 17,380 shares in the company, valued at approximately $1,845,408.40. The trade was a 1.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AGCO has been the topic of several recent research reports. Truist Financial decreased their price target on AGCO from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. UBS Group set a $106.00 target price on AGCO in a research report on Tuesday, April 22nd. Robert W. Baird lowered AGCO from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $116.00 to $100.00 in a research report on Monday, March 3rd. Baird R W lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group lifted their target price on AGCO from $91.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, AGCO has a consensus rating of “Hold” and a consensus target price of $104.10.

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.