Zuckerman Investment Group LLC Has $11.66 Million Stock Holdings in AGCO Co. (NYSE:AGCO)

Zuckerman Investment Group LLC cut its position in AGCO Co. (NYSE:AGCO) by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,246 shares of the industrial products company’s stock after selling 40,037 shares during the period. AGCO accounts for approximately 2.6% of Zuckerman Investment Group LLC’s investment portfolio, making the stock its 19th biggest holding. Zuckerman Investment Group LLC owned about 0.20% of AGCO worth $11,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AGCO. BlackRock Inc. boosted its stake in AGCO by 3.1% during the 2nd quarter. BlackRock Inc. now owns 6,076,006 shares of the industrial products company’s stock valued at $471,315,000 after purchasing an additional 181,070 shares during the last quarter. LSV Asset Management boosted its stake in AGCO by 0.9% during the 2nd quarter. LSV Asset Management now owns 2,743,010 shares of the industrial products company’s stock valued at $212,775,000 after purchasing an additional 25,600 shares during the last quarter. FMR LLC boosted its stake in AGCO by 29.1% during the 1st quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after purchasing an additional 309,101 shares during the last quarter. Geode Capital Management LLC boosted its stake in AGCO by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,239,289 shares of the industrial products company’s stock valued at $68,991,000 after purchasing an additional 45,469 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in AGCO by 824.9% during the 2nd quarter. Bank of Montreal Can now owns 1,102,403 shares of the industrial products company’s stock valued at $85,513,000 after purchasing an additional 983,216 shares during the last quarter. Institutional investors own 81.42% of the company’s stock.

Shares of NYSE:AGCO traded down $1.12 during mid-day trading on Tuesday, reaching $75.78. The company had a trading volume of 15,771 shares, compared to its average volume of 463,146. The company has a current ratio of 1.29, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.09 and a beta of 0.98. The company’s 50-day moving average price is $71.06 and its 200-day moving average price is $71.34. AGCO Co. has a one year low of $49.50 and a one year high of $80.64.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.55 billion. AGCO had a net margin of 4.07% and a return on equity of 12.64%. AGCO’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, research analysts anticipate that AGCO Co. will post 5.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.84%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.

In other AGCO news, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $70.52, for a total transaction of $705,200.00. Following the sale, the chief financial officer now owns 148,218 shares of the company’s stock, valued at approximately $10,452,333.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin Richenhagen sold 45,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $77.14, for a total transaction of $3,471,300.00. Following the sale, the chairman now directly owns 447,317 shares in the company, valued at approximately $34,506,033.38. The disclosure for this sale can be found here. Insiders have sold a total of 76,977 shares of company stock worth $5,761,368 in the last three months. Insiders own 17.60% of the company’s stock.

Several research firms have commented on AGCO. Wells Fargo & Co cut shares of AGCO from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $90.00 to $80.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised shares of AGCO from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $77.00 to $82.00 in a research report on Wednesday, September 11th. They noted that the move was a valuation call. OTR Global raised shares of AGCO to a “positive” rating in a research report on Friday, July 12th. Morgan Stanley lifted their target price on shares of AGCO from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their target price on shares of AGCO from $65.00 to $80.00 and gave the stock a “market perform” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $78.73.

AGCO Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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