Millennium Management LLC Raises Position in AGCO Co. (NYSE:AGCO)

Millennium Management LLC grew its position in AGCO Co. (NYSE:AGCO - Free Report) by 172.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,153 shares of the industrial products company's stock after purchasing an additional 63,434 shares during the quarter. Millennium Management LLC owned about 0.13% of AGCO worth $9,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AGCO. Pacer Advisors Inc. grew its holdings in AGCO by 103.5% in the second quarter. Pacer Advisors Inc. now owns 1,571,453 shares of the industrial products company's stock worth $153,814,000 after purchasing an additional 799,429 shares during the last quarter. Vanguard Group Inc. grew its holdings in AGCO by 11.6% in the first quarter. Vanguard Group Inc. now owns 7,565,114 shares of the industrial products company's stock worth $930,660,000 after purchasing an additional 784,617 shares during the last quarter. AQR Capital Management LLC grew its holdings in AGCO by 53.0% in the second quarter. AQR Capital Management LLC now owns 1,747,954 shares of the industrial products company's stock worth $171,090,000 after purchasing an additional 605,509 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of AGCO by 28.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,791,202 shares of the industrial products company's stock worth $175,323,000 after buying an additional 391,591 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of AGCO by 17.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,259,699 shares of the industrial products company's stock worth $221,187,000 after buying an additional 335,092 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AGCO

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

AGCO Price Performance

Shares of AGCO stock traded up $2.12 on Wednesday, reaching $97.20. 362,942 shares of the company were exchanged, compared to its average volume of 767,790. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 6.58, a P/E/G ratio of 0.88 and a beta of 1.25. The business has a 50-day moving average price of $91.42 and a 200 day moving average price of $102.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO Co. has a 1 year low of $84.35 and a 1 year high of $130.26.

AGCO (NYSE:AGCO - Get Free Report) 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). The company had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The firm's revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.29 EPS. Equities research analysts forecast that AGCO Co. will post 8 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.29 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. AGCO's payout ratio is 7.85%.

Analyst Ratings Changes

Several research firms have recently commented on AGCO. Truist Financial lifted their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup lifted their price objective on shares of AGCO from $88.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday. Robert W. Baird lowered their price objective on shares of AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective 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, The Goldman Sachs Group decreased their target price on shares of AGCO from $127.00 to $112.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $119.00.

AGCO 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.