Teachers Retirement System of The State of Kentucky increased its holdings in shares of AGCO Co. (NYSE:AGCO) by 1,500.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,480 shares of the industrial products company’s stock after buying an additional 214,200 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in AGCO were worth $16,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in AGCO. UBS Asset Management Americas Inc. grew its stake in AGCO by 1,020.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,354,033 shares of the industrial products company’s stock worth $168,149,000 after buying an additional 2,143,931 shares during the last quarter. BlackRock Inc. grew its stake in AGCO by 5.9% during the 4th quarter. BlackRock Inc. now owns 6,754,418 shares of the industrial products company’s stock worth $482,468,000 after buying an additional 378,009 shares during the last quarter. Teacher Retirement System of Texas grew its stake in AGCO by 262.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 364,230 shares of the industrial products company’s stock worth $26,869,000 after buying an additional 263,831 shares during the last quarter. JPMorgan Chase & Co. grew its stake in AGCO by 44.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 750,005 shares of the industrial products company’s stock worth $55,109,000 after buying an additional 230,409 shares during the last quarter. Finally, Lodge Hill Capital LLC purchased a new position in AGCO during the 3rd quarter worth $16,967,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Several research analysts recently weighed in on AGCO shares. Goldman Sachs Group upgraded AGCO from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, November 30th. Barclays started coverage on AGCO in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $75.00 target price on the stock. Stifel Nicolaus restated a “hold” rating and set a $73.00 target price on shares of AGCO in a research note on Thursday, December 21st. Royal Bank of Canada restated a “hold” rating and set a $79.00 target price on shares of AGCO in a research note on Thursday, January 11th. Finally, Seaport Global Securities restated a “hold” rating on shares of AGCO in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. AGCO has a consensus rating of “Hold” and an average price target of $72.80.
AGCO (NYSE:AGCO) last issued its quarterly earnings results 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 firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. equities analysts forecast that AGCO Co. will post 3.69 earnings per share for the current year.
The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. This is a boost from AGCO’s previous quarterly dividend of $0.14. AGCO’s payout ratio is currently 25.86%.
In other AGCO news, VP Richard Robinson Smith sold 1,316 shares of AGCO stock in a transaction dated Saturday, May 19th. The stock was sold at an average price of $54.05, for a total transaction of $71,129.80. Following the completion of the sale, the vice president now owns 35,068 shares of the company’s stock, valued at approximately $1,895,425.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 4,385 shares of company stock valued at $268,581. 16.60% of the stock is currently owned by insiders.
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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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