Short Interest in AGCO Co. (NYSE:AGCO) Rises By 11.0%

AGCO Co. (NYSE:AGCO) was the recipient of a significant growth in short interest in 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. Approximately 5.7% of the shares of the company are short sold. Based on an average daily volume of 807,600 shares, the days-to-cover ratio is currently 4.4 days.

Insiders Place Their Bets

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

Institutional Trading of AGCO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of AGCO during the fourth quarter valued at approximately $505,000. Vanguard Group Inc. grew its position in AGCO by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,780,497 shares of the industrial products company’s stock worth $823,220,000 after purchasing an additional 24,940 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of AGCO by 15.9% during the 4th quarter. Quadrature Capital Ltd now owns 14,005 shares of the industrial products company’s stock valued at $1,700,000 after buying an additional 1,920 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of AGCO in the fourth quarter worth $243,000. Finally, CWM LLC increased its position in AGCO by 15.0% during the first quarter. CWM LLC now owns 6,114 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of AGCO from $127.00 to $112.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lowered their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Truist Financial lifted their price objective on AGCO from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays lowered their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Finally, Raymond James assumed coverage on shares of AGCO in a research note on Friday, June 28th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $117.80.

AGCO Trading Up 1.3 %

Shares of NYSE:AGCO traded up $1.33 on Wednesday, reaching $100.08. 645,974 shares of the company traded hands, compared to its average volume of 764,885. The stock has a market capitalization of $7.47 billion, a P/E ratio of 6.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.25. The business’s 50-day simple moving average is $92.22 and its 200 day simple moving average is $101.79. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26.

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