Short Interest in AGCO Co. (NYSE:AGCO) Declines By 24.5%

( ) saw a significant drop in short interest for the month of July. On June 30, there were 967,000 short shares, which is a reduction of 24,5% from the total of 1,280,000 on June 15. The days-to cover ratio, based on a daily average trading volume of 599.800 shares, is currently 1.6. About 1.6% of shares are short-sold.

Institutional investors weigh in on AGCO

Recent hedge fund activity has seen a number of funds increase or decrease their stakes. Bank Julius Baer & Co. Ltd Zurich grew its AGCO holdings by 99,144.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich owns now 315,085,282 of the industrial product company's shares worth $41,408,508,000, after purchasing additional 314,767 798 shares in last quarter. Vanguard Group Inc. grew its holdings of shares of AGCO during the first quarter by 1.7%. Vanguard Group Inc. owns 6,453,637 of the industrial product company's shares valued at $942.424,000, after purchasing an additional 106.593 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings of shares of AGCO during the first quarter by 7,866.4%. Mizuho Markets Americas LLC owns 3,891,105 shares of industrial products company stock worth $300,695,000, after adding 3,544,052 more shares during the last quarter. Victory Capital Management Inc. grew its holdings of AGCO shares by 0.6% in the fourth quarter. Victory Capital Management Inc. owns now 3,260,006 of the industrial products firm's stock, valued at $452.135,000 after purchasing 18,305 additional shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in AGCO shares by 2.0% during the first quarter. Dimensional Fund Advisors LP owns now 2,038,095 of the industrial products firm's stock, valued at $275.543,000, after purchasing an additional 40.341 shares in the last quarter. Trading fell $0.88 at midday on Thursday to $139.00. The trading volume was 542,029 shares compared to the average of 636 602 shares. The stock's fifty-day moving average is $126.17, and its 200-day moving average is $130.10. The debt-to equity ratio for the company is 0.43. Its current ratio is 1.59, and its quick ratio 0.67. The company has a $10.41 billion market cap, a PE of 10.74 and a P/E/G of 0.88. It also has a beta of 1,37. The 52-week low for AGCO is $93.53 while the 52-week high is $145.53.

The last time ) released its quarterly earnings was on May 2nd. The industrial products company posted $3.51 in earnings per share for the third quarter, exceeding analysts' estimates of $2.64. Revenue for the quarter was $3.30 billion, which is higher than analyst expectations of $3.15. AGCO's return on equity was 27.21%, and its net margin was 7.30%. The company's revenue for the quarter was up by 22.9% compared to last year. In the same quarter of the prior year, the company earned $2.39 per share. Analysts expect AGCO to post an average of 14.53 earnings per shares for the current fiscal year.

AGCO Dividend Announcement

A quarterly dividend was also announced by the firm, and will be paid out on Friday, 15th September. Dividends of $0.29 will be paid to shareholders who were in the books on Tuesday, August 15. The dividend is payable on Monday, August 14. The yield is 0.83%. This dividend represents $1.16 on an annualized base. AGCO's current payout ratio is 8.96%.

Analysts set new price targets

AGCO was covered in a report published on Thursday 18th May. They gave the company a rating of 'buy.' In a research note published on Wednesday, April 12, Deutsche Bank Aktiengesellschaft lowered their AGCO target price from $140.00 down to $137.00. They also set a "hold" rating for the firm. Stifel Nicolaus reduced their target price for AGCO in a report published on May 3rd from $169.00 down to $165.00. Robert W. Baird raised their target price for AGCO in a report published on May 2nd from $185.00 up to $189.00. In a report published on April 3rd, Goldman Sachs Group reduced AGCO's rating from a "buy" to a "neutral", and lowered its target price from $149.00 down to $135.00. Three analysts at equities firms have rated AGCO's stock as a hold, while six others have given it a buy. According to data from MarketBeat.com AGCO's average rating is 'Moderate' Buy with an average price of $154.60.

What is AGCO?

(
Get Free Report
)

AGCO Corporation is a global manufacturer and distributor of agricultural equipment, including replacement parts. It provides horsepower tractors to be used for row crop production and soil cultivation. Also, utility tractors are available for smaller farms and for livestock, orchards and vineyards. Compact tractors can also be used for small farms and for specialty agricultural industries.

MarketBeat.com offers a FREE daily email newsletter
.