Allspring Global Investments Holdings LLC Buys 22,919 Shares of AGCO Co. (NYSE:AGCO)

Allspring Global Investments Holdings LLC increased its holdings in shares of AGCO Co. (NYSE:AGCOGet Rating) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,417 shares of the industrial products company’s stock after purchasing an additional 22,919 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.27% of AGCO worth $20,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Herold Advisors Inc. bought a new position in shares of AGCO during the first quarter valued at $29,000. IndexIQ Advisors LLC bought a new position in shares of AGCO during the first quarter valued at $37,000. Kistler Tiffany Companies LLC increased its position in AGCO by 466.7% during the first quarter. Kistler Tiffany Companies LLC now owns 255 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 210 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in AGCO during the second quarter valued at $48,000. Finally, Harbor Investment Advisory LLC purchased a new stake in AGCO during the first quarter valued at $58,000. 75.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AGCO has been the subject of a number of research reports. Morgan Stanley reduced their price objective on AGCO from $129.00 to $111.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on AGCO from $141.00 to $129.00 and set a “hold” rating for the company in a research report on Wednesday, July 13th. Oppenheimer reduced their price objective on AGCO from $169.00 to $156.00 and set an “outperform” rating for the company in a research report on Tuesday, July 5th. Citigroup upped their price target on AGCO to $125.00 in a research report on Tuesday, August 9th. Finally, Credit Suisse Group set a $128.00 price target on AGCO in a research report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, AGCO has an average rating of “Moderate Buy” and an average price target of $138.08.

Insider Activity at AGCO

In related news, CEO Andrew H. Beck sold 19,335 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $106.74, for a total transaction of $2,063,817.90. Following the completion of the transaction, the chief executive officer now directly owns 88,002 shares of the company’s stock, valued at $9,393,333.48. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Andrew H. Beck sold 19,335 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $106.74, for a total transaction of $2,063,817.90. Following the completion of the transaction, the chief executive officer now directly owns 88,002 shares of the company’s stock, valued at $9,393,333.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert B. Crain sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $107.22, for a total value of $750,540.00. Following the transaction, the senior vice president now directly owns 48,026 shares of the company’s stock, valued at $5,149,347.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,274 shares of company stock valued at $2,913,422. Insiders own 16.90% of the company’s stock.

AGCO Stock Performance

NYSE:AGCO opened at $106.36 on Thursday. The company has a current ratio of 1.57, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. AGCO Co. has a 12-month low of $88.55 and a 12-month high of $150.28. The stock has a 50-day moving average price of $106.90 and a 200 day moving average price of $114.72. The stock has a market capitalization of $7.93 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.93 and a beta of 1.35.

AGCO (NYSE:AGCOGet Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.20. AGCO had a return on equity of 22.54% and a net margin of 6.89%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business posted $2.88 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that AGCO Co. will post 11.86 EPS for the current fiscal year.

AGCO Company Profile

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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.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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