Wedge Capital Management L L P NC Raises Stock Holdings in AGCO Co. (NYSE:AGCO)

by · The Markets Daily

Wedge Capital Management L L P NC increased its position in AGCO Co. (NYSE:AGCO – Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,971 shares of the industrial products company’s stock after purchasing an additional 11,587 shares during the period. Wedge Capital Management L L P NC owned 0.18% of AGCO worth $13,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Inspire Investing LLC grew its stake in AGCO by 16.3% in the third quarter. Inspire Investing LLC now owns 4,181 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 587 shares during the period. Capital Insight Partners LLC grew its stake in AGCO by 4.0% in the third quarter. Capital Insight Partners LLC now owns 4,577 shares of the industrial products company’s stock worth $448,000 after purchasing an additional 176 shares during the period. Unison Advisors LLC purchased a new stake in AGCO in the third quarter worth $754,000. SG Americas Securities LLC grew its stake in AGCO by 278.2% in the third quarter. SG Americas Securities LLC now owns 20,430 shares of the industrial products company’s stock worth $1,999,000 after purchasing an additional 15,028 shares during the period. Finally, Cascade Investment Advisors Inc. grew its stake in AGCO by 14.3% in the third quarter. Cascade Investment Advisors Inc. now owns 11,917 shares of the industrial products company’s stock worth $1,166,000 after purchasing an additional 1,490 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BMO Capital Markets assumed coverage on AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price on the stock. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barclays dropped their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Citigroup boosted their target price on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, UBS Group dropped their price objective on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.80.

Read Our Latest Report on AGCO

AGCO Stock Down 0.3 %

Shares of AGCO opened at $99.30 on Tuesday. The business’s 50 day moving average is $91.75 and its 200 day moving average is $102.13. The company has a market capitalization of $7.41 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.91 and a beta of 1.25. AGCO Co. has a 12-month low of $84.35 and a 12-month high of $130.26. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89.

AGCO (NYSE:AGCO – Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.90 by ($0.37). The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the business posted $4.29 EPS. Research analysts expect that AGCO Co. will post 8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael C. Arnold acquired 1,800 shares of AGCO stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $87.69 per share, with a total value of $157,842.00. Following the purchase, the director now directly owns 20,465 shares in the company, valued at $1,794,575.85. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lange Bob De bought 1,420 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $87.91 per share, for a total transaction of $124,832.20. Following the acquisition, the director now owns 7,007 shares in the company, valued at $615,985.37. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael C. Arnold bought 1,800 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $87.69 per share, with a total value of $157,842.00. Following the acquisition, the director now owns 20,465 shares in the company, valued at approximately $1,794,575.85. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.60% of the company’s stock.

AGCO Profile

(Free Report)

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.

See Also

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