HPM Partners LLC reduced its stake in shares of AGCO Corporation (NYSE:AGCO) by 69.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,752 shares of the industrial products company’s stock after selling 17,850 shares during the quarter. HPM Partners LLC’s holdings in AGCO Corporation were worth $602,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its stake in 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 valued at $312,000 after buying an additional 36 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in 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 valued at $577,000 after buying an additional 61 shares in the last quarter. Utah Retirement Systems boosted its stake in AGCO Corporation by 0.8% in the first quarter. Utah Retirement Systems now owns 12,764 shares of the industrial products company’s stock valued at $769,000 after buying an additional 100 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in 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 valued at $203,000 after buying an additional 106 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in AGCO Corporation by 3.6% in the second quarter. Eqis Capital Management Inc. now owns 4,239 shares of the industrial products company’s stock valued at $286,000 after buying an additional 147 shares in the last quarter. 80.68% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on AGCO shares. BMO Capital Markets raised their price objective on AGCO Corporation from $55.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price objective on shares of AGCO Corporation in a research note on Wednesday, May 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $64.00 price objective on shares of AGCO Corporation in a research note on Tuesday, June 6th. BidaskClub raised AGCO Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Bank of America Corporation raised AGCO Corporation from an “underperform” rating to a “neutral” rating in a research note on Monday, June 19th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. AGCO Corporation presently has an average rating of “Hold” and an average target price of $65.73.
In other news, SVP Robert B. Crain sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Hans Bernd Veltmaat sold 750 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the sale, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at approximately $4,560,079.04. The disclosure for this sale can be found here. In the last three months, insiders sold 26,750 shares of company stock valued at $1,921,390. 16.60% of the stock is currently owned by corporate insiders.
AGCO Corporation (AGCO) opened at 67.80 on Friday. The stock’s 50 day moving average price is $69.53 and its 200-day moving average price is $65.13. The company has a market capitalization of $5.39 billion, a P/E ratio of 29.65 and a beta of 0.88. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97.
AGCO Corporation (NYSE:AGCO) last released its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the company posted $1.25 EPS. AGCO Corporation’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts predict that AGCO Corporation will post $3.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, August 11th. AGCO Corporation’s dividend payout ratio (DPR) is presently 24.56%.
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AGCO Corporation 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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