Ellsworth Advisors LLC Raises Position in AGCO Co. (NYSE:AGCO)

Ellsworth Advisors LLC lifted its stake in AGCO Co. (NYSE:AGCO) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 36,328 shares of the industrial products company’s stock after acquiring an additional 1,628 shares during the quarter. Ellsworth Advisors LLC’s holdings in AGCO were worth $3,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in shares of AGCO in the fourth quarter worth about $26,000. FinTrust Capital Advisors LLC lifted its stake in shares of AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 117 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of AGCO by 93.2% in the first quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in shares of AGCO in the first quarter worth about $30,000. Finally, American National Bank acquired a new position in shares of AGCO in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 78.80% of the company’s stock.

AGCO Stock Performance

Shares of NYSE:AGCO traded up $0.20 during trading on Friday, hitting $88.33. 1,093,035 shares of the company traded hands, compared to its average volume of 784,270. The business’s fifty day moving average is $96.99 and its 200-day moving average is $108.54. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.86 and a beta of 1.27. AGCO Co. has a one year low of $84.35 and a one year high of $132.94.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37). AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the company posted $4.29 EPS. AGCO’s revenue was down 15.1% on a year-over-year basis. As a group, equities analysts predict that AGCO Co. will post 7.89 earnings per share for the current fiscal year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.31%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Insider Activity

In other AGCO news, Director Lange Bob De bought 1,420 shares of AGCO stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the acquisition, the director now directly owns 7,007 shares of the company’s stock, valued at $615,985.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AGCO news, Director Lange Bob De bought 1,420 shares of AGCO stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the completion of the acquisition, the director now directly owns 7,007 shares of the company’s stock, valued at $615,985.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael C. Arnold bought 1,800 shares of AGCO stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $87.69 per share, with a total value of $157,842.00. Following the acquisition, the director now directly owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The disclosure for this purchase can be found here. Insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays cut their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their price target on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. The Goldman Sachs Group cut their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Raymond James began coverage on AGCO in a research note on Friday, June 28th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $118.91.

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.