Insider Selling: AGCO Co. (NYSE:AGCO) Chairman Sells 51,000 Shares of Stock
AGCO Co. (NYSE:AGCO) Chairman Martin Richenhagen sold 51,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $71.60, for a total transaction of $3,651,600.00. Following the sale, the chairman now directly owns 473,733 shares in the company, valued at approximately $33,919,282.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Martin Richenhagen also recently made the following trade(s):
- On Monday, May 13th, Martin Richenhagen sold 51,000 shares of AGCO stock. The stock was sold at an average price of $70.43, for a total transaction of $3,591,930.00.
- On Monday, April 15th, Martin Richenhagen sold 51,000 shares of AGCO stock. The shares were sold at an average price of $71.47, for a total transaction of $3,644,970.00.
- On Monday, April 1st, Martin Richenhagen sold 102,000 shares of AGCO stock. The shares were sold at an average price of $70.19, for a total transaction of $7,159,380.00.
Shares of AGCO traded up $0.32 during mid-day trading on Friday, reaching $72.65. The stock had a trading volume of 19,480 shares, compared to its average volume of 559,012. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52. AGCO Co. has a 52-week low of $49.50 and a 52-week high of $75.56. The firm has a market capitalization of $5.55 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.08 and a beta of 0.89.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from AGCO’s previous quarterly dividend of $0.15. AGCO’s dividend payout ratio is currently 16.45%.
AGCO has been the topic of several recent research reports. Deutsche Bank set a $76.00 price objective on shares of AGCO and gave the company a “buy” rating in a report on Friday, March 8th. Zacks Investment Research raised shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, April 16th. Citigroup upped their price objective on shares of AGCO from $65.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, May 6th. ValuEngine downgraded shares of AGCO from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, JPMorgan Chase & Co. upgraded shares of AGCO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $66.00 to $77.00 in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. AGCO has an average rating of “Hold” and an average target price of $71.50.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in AGCO by 2.9% in the first quarter. Nordea Investment Management AB now owns 464,061 shares of the industrial products company’s stock valued at $32,275,000 after acquiring an additional 12,979 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in AGCO in the first quarter valued at approximately $207,000. FMR LLC raised its holdings in AGCO by 29.1% in the first quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after acquiring an additional 309,101 shares in the last quarter. Sandbar Asset Management LLP raised its holdings in AGCO by 470.4% in the first quarter. Sandbar Asset Management LLP now owns 41,037 shares of the industrial products company’s stock valued at $2,854,000 after acquiring an additional 33,843 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its holdings in AGCO by 21.4% in the first quarter. BlueMountain Capital Management LLC now owns 187,631 shares of the industrial products company’s stock valued at $13,050,000 after acquiring an additional 33,049 shares in the last quarter. 80.88% of the stock is owned by hedge funds and other institutional investors.
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AGCO Company 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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