Oppenheimer & Co. Inc. Increases Stake in AGCO Co. (NYSE:AGCO)

Posted by Defense World Staff on May 12th, 2023

Oppenheimer & Co. Inc. raised its position in AGCO Co. (NYSE:AGCO – Get Rating) by 74.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,528 shares of the industrial products company’s stock after purchasing an additional 2,358 shares during the period. Oppenheimer & Co. Inc.’s holdings in AGCO were worth $767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of AGCO by 3.9% during the 4th quarter. Arizona State Retirement System now owns 17,892 shares of the industrial products company’s stock worth $2,481,000 after acquiring an additional 673 shares during the period. Capital Insight Partners LLC purchased a new position in shares of AGCO during the 4th quarter worth $290,000. Raleigh Capital Management Inc. raised its holdings in shares of AGCO by 211.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 190 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 129 shares during the period. Edge Capital Group LLC purchased a new position in shares of AGCO during the 4th quarter worth $277,000. Finally, LPL Financial LLC raised its holdings in shares of AGCO by 34.0% during the 4th quarter. LPL Financial LLC now owns 12,408 shares of the industrial products company’s stock worth $1,721,000 after acquiring an additional 3,151 shares during the period. Hedge funds and other institutional investors own 75.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AGCO shares. Sanford C. Bernstein lifted their price target on AGCO from $122.00 to $135.00 in a report on Wednesday, May 3rd. Morgan Stanley raised their price objective on AGCO from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft cut their price objective on AGCO from $140.00 to $137.00 and set a “hold” rating for the company in a research report on Wednesday, April 12th. StockNews.com downgraded AGCO from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 3rd. Finally, The Goldman Sachs Group downgraded AGCO from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $149.00 to $135.00 in a research report on Monday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.33.

Insider Activity

In other news, CAO Lara Thrush Long sold 1,623 shares of AGCO stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $138.76, for a total value of $225,207.48. Following the completion of the transaction, the chief accounting officer now owns 782 shares in the company, valued at approximately $108,510.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Luis Fernando Sartini Felli sold 2,625 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $137.26, for a total transaction of $360,307.50. Following the completion of the sale, the senior vice president now owns 15,833 shares in the company, valued at $2,173,237.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lara Thrush Long sold 1,623 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $138.76, for a total value of $225,207.48. Following the sale, the chief accounting officer now owns 782 shares of the company’s stock, valued at approximately $108,510.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,142 shares of company stock worth $1,947,230. 16.90% of the stock is currently owned by company insiders.

AGCO Stock Performance

NYSE AGCO opened at $123.52 on Friday. The company has a market cap of $9.24 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.82 and a beta of 1.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.59 and a quick ratio of 0.67. The stock has a 50-day moving average of $127.21 and a two-hundred day moving average of $130.81. AGCO Co. has a 1-year low of $88.55 and a 1-year high of $145.53.

AGCO (NYSE:AGCO – Get Rating) last released its earnings results on Tuesday, May 2nd. The industrial products company reported $3.51 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.87. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.15 billion. AGCO had a return on equity of 27.21% and a net margin of 7.30%. AGCO’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 EPS. As a group, analysts anticipate that AGCO Co. will post 14.66 EPS for the current year.

AGCO Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, May 12th. This is a boost from AGCO’s previous quarterly dividend of $0.24. AGCO’s dividend payout ratio (DPR) is presently 8.96%.

AGCO Profile

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AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America, South America, Europe and Middle East, and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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