AGCO (NYSE:AGCO) Shares Down 4.6% – Here’s What Happened

AGCO Co. (NYSE:AGCO)’s share price traded down 4.6% during trading on Tuesday . The stock traded as low as $93.30 and last traded at $93.38. 135,831 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 757,237 shares. The stock had previously closed at $97.87.

Analysts Set New Price Targets

AGCO has been the topic of a number of recent analyst reports. StockNews.com lowered shares of AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. UBS Group cut their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Citigroup raised their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group lowered their price target on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.80.

AGCO Price Performance

The firm has a 50-day moving average price of $95.51 and a 200 day moving average price of $99.77. The stock has a market capitalization of $6.73 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.29%. AGCO’s payout ratio is 20.71%.

Insider Activity

In other news, Director Michael C. Arnold purchased 1,800 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 20,465 shares of the company’s stock, valued at approximately $1,794,575.85. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.80% of the stock is currently owned by corporate insiders.

Institutional Trading of AGCO

Several institutional investors and hedge funds have recently bought and sold shares of AGCO. Forum Financial Management LP grew its holdings in AGCO by 5.5% in the second quarter. Forum Financial Management LP now owns 2,108 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 109 shares during the period. Manchester Capital Management LLC increased its holdings in AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares in the last quarter. Capital Insight Partners LLC raised its stake in AGCO by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 4,401 shares of the industrial products company’s stock valued at $431,000 after buying an additional 110 shares during the last quarter. FinTrust Capital Advisors LLC increased its position in shares of AGCO by 121.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in AGCO by 50.2% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 139 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

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.