Wolverine Asset Management LLC purchased a new position in shares of AGCO Co. (NYSE:AGCO) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 28,000 shares of the industrial products company’s stock, valued at approximately $2,000,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Brandywine Global Investment Management LLC grew its stake in shares of AGCO by 2.8% during the 4th quarter. Brandywine Global Investment Management LLC now owns 71,784 shares of the industrial products company’s stock worth $5,128,000 after acquiring an additional 1,986 shares in the last quarter. Caxton Associates LP grew its stake in shares of AGCO by 40.3% during the 4th quarter. Caxton Associates LP now owns 10,666 shares of the industrial products company’s stock worth $762,000 after acquiring an additional 3,066 shares in the last quarter. Advisor Group Inc. grew its stake in shares of AGCO by 187.9% during the 4th quarter. Advisor Group Inc. now owns 2,709 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 1,768 shares in the last quarter. AMP Capital Investors Ltd grew its stake in shares of AGCO by 28.0% during the 4th quarter. AMP Capital Investors Ltd now owns 56,489 shares of the industrial products company’s stock worth $4,035,000 after acquiring an additional 12,365 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of AGCO during the 4th quarter worth approximately $4,365,000. 81.24% of the stock is owned by institutional investors.
In other AGCO news, VP Richard Robinson Smith sold 1,316 shares of AGCO stock in a transaction on Saturday, May 19th. The shares were sold at an average price of $54.05, for a total transaction of $71,129.80. Following the completion of the transaction, the vice president now directly owns 35,068 shares of the company’s stock, valued at $1,895,425.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 4,385 shares of company stock valued at $268,581. Company insiders own 16.60% of the company’s stock.
AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.01). AGCO had a return on equity of 8.04% and a net margin of 2.24%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. equities analysts predict that AGCO Co. will post 3.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. This is a boost from AGCO’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, February 14th. AGCO’s payout ratio is 25.86%.
Several research firms recently weighed in on AGCO. JPMorgan Chase & Co. raised shares of AGCO from an “underweight” rating to a “neutral” rating in a research note on Wednesday, February 7th. Goldman Sachs Group raised shares of AGCO from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Thursday, November 30th. Barclays began coverage on shares of AGCO in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $75.00 target price for the company. BMO Capital Markets decreased their target price on shares of AGCO from $85.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, February 8th. Finally, Bank of America decreased their target price on shares of AGCO from $70.00 to $64.00 and set an “underperform” rating for the company in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $72.80.
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AGCO 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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