AGCO Co. (NYSE:AGCO) Short Interest Update

AGCO Co. (NYSE:AGCO) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 3,540,000 shares, a growth of 11.0% from the September 15th total of 3,190,000 shares. Currently, 5.7% of the company’s shares are short sold. Based on an average trading volume of 807,600 shares, the days-to-cover ratio is presently 4.4 days.

Insiders Place Their Bets

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

Hedge Funds Weigh In On AGCO

Several large investors have recently bought and sold shares of AGCO. FinTrust Capital Advisors LLC raised its holdings in shares of AGCO by 121.9% in the first quarter. FinTrust Capital Advisors LLC now owns 213 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Manchester Capital Management LLC lifted its position in shares of AGCO by 93.2% during 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 in the last quarter. LRI Investments LLC purchased a new position in shares of AGCO in the 1st quarter worth approximately $30,000. Blue Trust Inc. grew its holdings in shares of AGCO by 102.4% in the second quarter. Blue Trust Inc. now owns 344 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 174 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of 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 during the last quarter. 78.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Oppenheimer dropped their price target on AGCO from $133.00 to $132.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Truist Financial raised their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup lifted their price objective on shares of AGCO from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, UBS Group cut their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.80.

AGCO Stock Up 1.3 %

Shares of AGCO stock traded up $1.33 during trading hours on Wednesday, reaching $100.08. The company’s stock had a trading volume of 645,974 shares, compared to its average volume of 764,885. The company has a market capitalization of $7.47 billion, a P/E ratio of 6.81, a P/E/G ratio of 0.91 and a beta of 1.25. The stock’s fifty day simple moving average is $92.22 and its two-hundred day simple moving average is $101.79. AGCO has a one year low of $84.35 and a one year high of $130.26. 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 (NYSE:AGCO) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share (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 analyst estimates of $3.48 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. AGCO’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.29 EPS. On average, research analysts forecast that AGCO will post 8 earnings per share for the current year.

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.