Caitong International Asset Management Co. Ltd Invests $32,000 in AGCO Corporation $AGCO

Caitong International Asset Management Co. Ltd purchased a new position in shares of AGCO Corporation (NYSE:AGCO) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 345 shares of the industrial products company’s stock, valued at approximately $32,000.

Several other large investors also recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in shares of AGCO by 3.2% during the 1st quarter. HighTower Advisors LLC now owns 8,630 shares of the industrial products company’s stock worth $799,000 after acquiring an additional 271 shares in the last quarter. CCM Investment Group LLC bought a new stake in shares of AGCO during the 1st quarter worth about $237,000. Nuveen LLC bought a new stake in shares of AGCO during the 1st quarter worth about $10,264,000. Virtu Financial LLC bought a new stake in shares of AGCO during the 1st quarter worth about $1,012,000. Finally, Entropy Technologies LP bought a new stake in shares of AGCO during the 1st quarter worth about $1,902,000. Institutional investors own 78.80% of the company’s stock.

Insider Buying and Selling

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $109.40, for a total value of $1,094,000.00. Following the completion of the transaction, the senior vice president owned 16,189 shares of the company’s stock, valued at $1,771,076.60. This represents a 38.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 16.90% of the stock is currently owned by company insiders.

AGCO Trading Up 0.7%

AGCO stock opened at $112.20 on Monday. The business has a 50 day moving average price of $107.82 and a two-hundred day moving average price of $99.24. The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 83.73, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. AGCO Corporation has a 12 month low of $73.79 and a 12 month high of $121.16.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.52 billion. AGCO had a return on equity of 8.27% and a net margin of 0.98%. The company’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 EPS. As a group, equities analysts forecast that AGCO Corporation will post 4.2 EPS for the current year.

AGCO declared that its Board of Directors has initiated a share buyback program on Wednesday, July 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 12.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.0%. AGCO’s dividend payout ratio is 86.57%.

Analyst Ratings Changes

AGCO has been the subject of several recent analyst reports. Oppenheimer upped their price target on AGCO from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Citigroup reiterated a “neutral” rating and set a $110.00 price target on shares of AGCO in a research note on Friday, May 30th. The Goldman Sachs Group increased their target price on AGCO from $91.00 to $107.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. Wall Street Zen upgraded AGCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley increased their target price on AGCO from $75.00 to $84.00 and gave the company an “underweight” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $109.63.

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.