Spark Investment Management LLC Sells 35,900 Shares of AGCO Co. (AGCO)

Spark Investment Management LLC decreased its holdings in shares of AGCO Co. (NYSE:AGCO) by 57.4% in the 1st quarter, Holdings Channel reports. The firm owned 26,600 shares of the industrial products company’s stock after selling 35,900 shares during the quarter. Spark Investment Management LLC’s holdings in AGCO were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. lifted its holdings in AGCO by 116.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 415 shares during the period. JOYN Advisors Inc. lifted its holdings in AGCO by 109.5% in the fourth quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 448 shares during the period. Private Capital Group LLC lifted its holdings in AGCO by 20.1% in the fourth quarter. Private Capital Group LLC now owns 1,092 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 183 shares during the period. SRS Capital Advisors Inc. lifted its holdings in AGCO by 183.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 729 shares during the period. Finally, Investors Research Corp acquired a new stake in AGCO in the first quarter worth about $94,000. Hedge funds and other institutional investors own 83.76% of the company’s stock.

NYSE AGCO traded up $1.36 on Tuesday, reaching $67.46. The company’s stock had a trading volume of 3,876 shares, compared to its average volume of 623,886. AGCO Co. has a twelve month low of $49.50 and a twelve month high of $75.56. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.95 and a beta of 0.88.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.44. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company earned $0.30 EPS. AGCO’s revenue was down .6% on a year-over-year basis. As a group, research analysts predict that AGCO Co. will post 4.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. This is an increase from AGCO’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio is presently 16.45%.

Several equities research analysts recently weighed in on AGCO shares. Deutsche Bank set a $76.00 price objective on shares of AGCO and gave the stock a “buy” rating in a report on Friday, March 8th. Barclays downgraded shares of AGCO from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $64.00 to $63.00 in a report on Wednesday, January 23rd. Credit Suisse Group reaffirmed a “hold” rating and issued a $63.00 price objective on shares of AGCO in a report on Tuesday, January 22nd. Zacks Investment Research raised shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday, April 16th. Finally, Citigroup upped their price objective on shares of AGCO from $65.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. AGCO has a consensus rating of “Hold” and a consensus target price of $71.50.

In other AGCO news, SVP Lucinda B. Smith sold 3,300 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $68.00, for a total transaction of $224,400.00. Following the sale, the senior vice president now owns 32,538 shares in the company, valued at approximately $2,212,584. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Lara Thrush Long sold 2,100 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $66.31, for a total value of $139,251.00. Following the sale, the vice president now owns 5,991 shares in the company, valued at approximately $397,263.21. The disclosure for this sale can be found here. Insiders sold a total of 241,000 shares of company stock valued at $17,020,331 over the last three months. 17.60% of the stock is owned by corporate insiders.

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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.

Read More: Balance Sheet

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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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