Gladius Capital Management LP Sells 350 Shares of AGCO Co. (NYSE:AGCO)

Gladius Capital Management LP decreased its stake in shares of AGCO Co. (NYSE:AGCO) by 43.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 460 shares of the industrial products company’s stock after selling 350 shares during the period. Gladius Capital Management LP’s holdings in AGCO were worth $45,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AGCO. Vanguard Group Inc. boosted its stake in AGCO by 11.6% during the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company’s stock worth $930,660,000 after acquiring an additional 784,617 shares in the last quarter. Victory Capital Management Inc. boosted its stake in AGCO by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,060,587 shares of the industrial products company’s stock worth $371,586,000 after acquiring an additional 18,209 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in AGCO by 3,115.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,192,533 shares of the industrial products company’s stock worth $144,785,000 after acquiring an additional 1,155,440 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in AGCO by 1.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,012,681 shares of the industrial products company’s stock worth $122,517,000 after acquiring an additional 17,690 shares in the last quarter. Finally, Norges Bank bought a new stake in AGCO during the fourth quarter worth about $83,733,000. Institutional investors own 78.80% of the company’s stock.

Insider Buying and Selling

In other AGCO news, Director Michael C. Arnold acquired 1,800 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the transaction, the director now directly owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AGCO news, Director Michael C. Arnold acquired 1,800 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the transaction, the director now directly owns 20,465 shares of the company’s stock, valued at $1,794,575.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lange Bob De acquired 1,420 shares of the stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $87.91 per share, with a total value of $124,832.20. Following the transaction, the director now directly owns 7,007 shares of the company’s stock, valued at $615,985.37. The disclosure for this purchase can be found here. 16.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AGCO shares. Citigroup started coverage on shares of AGCO in a report on Wednesday, June 26th. They issued a “neutral” rating and a $108.00 target price for the company. The Goldman Sachs Group decreased their target price on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. UBS Group decreased their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Barclays decreased their target price on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $118.00 target price (down from $130.00) on shares of AGCO in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, AGCO presently has a consensus rating of “Hold” and an average price target of $118.91.

AGCO Price Performance

Shares of AGCO traded up $0.26 during mid-day trading on Friday, reaching $88.39. The stock had a trading volume of 1,093,036 shares, compared to its average volume of 784,270. The firm has a market cap of $6.60 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 12 month low of $84.35 and a 12 month high of $132.94. The business has a fifty day moving average of $96.69 and a 200 day moving average of $108.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 1.52.

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

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors 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 is 7.85%.

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.