Jade Capital Advisors LLC Takes $979,000 Position in AGCO Co. (NYSE:AGCO)

Jade Capital Advisors LLC bought a new stake in shares of AGCO Co. (NYSE:AGCO) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 10,000 shares of the industrial products company’s stock, valued at approximately $979,000.

Several other large investors have also recently made changes to their positions in AGCO. FinTrust Capital Advisors LLC lifted its stake in AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 117 shares during the last quarter. Manchester Capital Management LLC increased its holdings in AGCO by 93.2% in the 1st quarter. Manchester Capital Management LLC now owns 228 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the period. LRI Investments LLC purchased a new position in shares of AGCO during the first quarter worth $30,000. Blue Trust Inc. raised its stake in shares of AGCO by 102.4% during the 2nd quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after buying an additional 174 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in AGCO by 69.0% during the second quarter. First Horizon Advisors Inc. now owns 409 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 167 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

AGCO Stock Down 3.1 %

AGCO opened at $98.62 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72. AGCO Co. has a 12 month low of $84.35 and a 12 month high of $130.26. The stock has a market capitalization of $7.36 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.91 and a beta of 1.25. The business has a 50 day simple moving average of $93.28 and a 200-day simple moving average of $101.21.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AGCO shares. Raymond James initiated coverage on shares of AGCO in a research report on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group reduced their price target on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Citigroup upped their price objective on AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Truist Financial raised their target price on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.80.

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.