Schwerin Boyle Capital Management Inc. reduced its stake in shares of AGCO Corporation (NYSE:AGCO) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,624 shares of the industrial products company’s stock after selling 3,450 shares during the period. AGCO Corporation comprises approximately 3.4% of Schwerin Boyle Capital Management Inc.’s investment portfolio, making the stock its 11th largest position. Schwerin Boyle Capital Management Inc.’s holdings in AGCO Corporation were worth $28,021,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in shares of AGCO Corporation during the fourth quarter worth approximately $12,468,000. Aberdeen Asset Management PLC UK raised its stake in shares of AGCO Corporation by 3.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 11,295 shares of the industrial products company’s stock worth $654,000 after buying an additional 352 shares during the period. Comerica Bank raised its stake in shares of AGCO Corporation by 2.3% in the fourth quarter. Comerica Bank now owns 55,918 shares of the industrial products company’s stock worth $3,404,000 after buying an additional 1,275 shares during the period. Cipher Capital LP purchased a new stake in AGCO Corporation during the fourth quarter valued at about $338,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in AGCO Corporation by 55.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,014 shares of the industrial products company’s stock valued at $927,000 after buying an additional 5,704 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.
AGCO Corporation (NYSE AGCO) traded up 0.68% during mid-day trading on Monday, hitting $67.80. The stock had a trading volume of 690,883 shares. The stock’s 50-day moving average price is $64.64 and its 200-day moving average price is $61.64. AGCO Corporation has a 12 month low of $44.68 and a 12 month high of $68.01. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 38.50 and a beta of 0.92.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Friday, April 28th. The industrial products company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.15. AGCO Corporation had a return on equity of 6.55% and a net margin of 1.90%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, analysts predict that AGCO Corporation will post $2.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were paid a $0.14 dividend. The ex-dividend date was Thursday, May 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. AGCO Corporation’s payout ratio is presently 32.00%.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of AGCO Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, April 11th. Stifel Nicolaus initiated coverage on shares of AGCO Corporation in a report on Monday, April 10th. They issued a “hold” rating and a $64.00 price target on the stock. BMO Capital Markets boosted their price target on shares of AGCO Corporation from $55.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, May 30th. Seaport Global Securities upped their price objective on shares of AGCO Corporation from $57.00 to $61.00 and gave the company a “neutral” rating in a report on Monday, May 1st. Finally, J P Morgan Chase & Co raised shares of AGCO Corporation from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $60.00 in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. AGCO Corporation currently has an average rating of “Hold” and a consensus price target of $63.43.
In other news, SVP Lucinda B. Smith sold 5,000 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $64.00, for a total value of $320,000.00. Following the completion of the sale, the senior vice president now directly owns 40,977 shares of the company’s stock, valued at approximately $2,622,528. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $63.91, for a total value of $130,184.67. Following the completion of the transaction, the vice president now owns 41,717 shares in the company, valued at approximately $2,666,133.47. The disclosure for this sale can be found here. Insiders own 16.60% of the company’s stock.
AGCO Corporation Company Profile
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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