Hermes Investment Management Ltd. purchased a new position in shares of AGCO Corporation (NYSE:AGCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,600 shares of the industrial products company’s stock, valued at approximately $445,000.
Several other large investors also recently added to or reduced their stakes in AGCO. World Asset Management Inc increased its position in shares of AGCO Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 5,189 shares of the industrial products company’s stock worth $312,000 after buying an additional 36 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of AGCO Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,140 shares of the industrial products company’s stock worth $490,000 after buying an additional 50 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of AGCO Corporation by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,584 shares of the industrial products company’s stock worth $577,000 after buying an additional 61 shares in the last quarter. Utah Retirement Systems increased its position in shares of AGCO Corporation by 0.8% in the first quarter. Utah Retirement Systems now owns 12,764 shares of the industrial products company’s stock worth $769,000 after buying an additional 100 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock worth $203,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 84.62% of the company’s stock.
Shares of AGCO Corporation (NYSE AGCO) opened at 68.82 on Friday. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 30.09 and a beta of 0.86. The firm’s 50-day moving average price is $70.13 and its 200-day moving average price is $64.58.
AGCO Corporation (NYSE:AGCO) last released its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Analysts anticipate that AGCO Corporation will post $3.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 annualized dividend and a dividend yield of 0.81%. AGCO Corporation’s payout ratio is 24.56%.
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AGCO has been the topic of a number of recent analyst reports. Citigroup Inc. boosted their price objective on AGCO Corporation from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, May 1st. William Blair raised AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. Bank of America Corporation raised AGCO Corporation from an “underperform” rating to a “neutral” rating in a research note on Monday, June 19th. BidaskClub raised AGCO Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price target on shares of AGCO Corporation in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $64.80.
In related news, CFO Andrew H. Beck sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the transaction, the chief financial officer now directly owns 142,079 shares in the company, valued at approximately $10,255,262.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the completion of the transaction, the senior vice president now owns 38,877 shares of the company’s stock, valued at $2,838,021. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock valued at $1,871,500 over the last quarter. Company 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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