Delta Lloyd Asset Management N.V. acquired a new position in AGCO Corporation (NYSE:AGCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,469 shares of the industrial products company’s stock, valued at approximately $773,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AGCO. Macquarie Group Ltd. increased its holdings in AGCO Corporation by 26.3% in the 4th quarter. Macquarie Group Ltd. now owns 4,800 shares of the industrial products company’s stock worth $278,000 after buying an additional 1,000 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of AGCO Corporation by 2.3% during the 1st quarter. Nationwide Fund Advisors now owns 131,444 shares of the industrial products company’s stock valued at $7,910,000 after purchasing an additional 3,011 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of AGCO Corporation during the 1st quarter valued at about $378,000. Russell Investments Group Ltd. grew its stake in shares of AGCO Corporation by 15.7% during the 1st quarter. Russell Investments Group Ltd. now owns 248,647 shares of the industrial products company’s stock valued at $14,965,000 after purchasing an additional 33,779 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of AGCO Corporation by 1.6% during the 1st quarter. Wells Fargo & Company MN now owns 33,326 shares of the industrial products company’s stock valued at $2,006,000 after purchasing an additional 527 shares during the period. Institutional investors own 80.67% of the company’s stock.
A number of research firms have issued reports on AGCO. Deutsche Bank AG restated a “buy” rating and set a $90.00 price target (up from $88.00) on shares of AGCO Corporation in a research note on Thursday. BidaskClub raised AGCO Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $66.00 price objective on shares of AGCO Corporation in a research report on Sunday, September 17th. Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 price objective on shares of AGCO Corporation in a research report on Thursday, August 31st. Finally, BMO Capital Markets lifted their price objective on AGCO Corporation from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.14.
In other AGCO Corporation news, SVP Robert B. Crain sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the transaction, the senior vice president now owns 89,322 shares of the company’s stock, valued at $6,411,533.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Hans Bernd Veltmaat sold 750 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total transaction of $49,890.00. Following the completion of the transaction, the senior vice president now directly owns 68,552 shares in the company, valued at approximately $4,560,079.04. The disclosure for this sale can be found here. Insiders have sold 26,750 shares of company stock valued at $1,921,390 over the last 90 days. Insiders own 16.60% of the company’s stock.
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AGCO Corporation (NYSE AGCO) opened at 72.62 on Friday. The company has a market cap of $5.78 billion, a P/E ratio of 31.75 and a beta of 0.88. The stock’s 50 day moving average price is $69.21 and its 200 day moving average price is $65.61. AGCO Corporation has a 52-week low of $46.75 and a 52-week high of $73.97.
AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.11. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. Analysts expect that AGCO Corporation will post $3.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.77%. AGCO Corporation’s dividend payout ratio is presently 24.56%.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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