Hodges Capital Management Inc. cut its holdings in shares of AGCO Co. (NYSE:AGCO) by 4.8% in the 1st quarter, Holdings Channel reports. The firm owned 5,939 shares of the industrial products company’s stock after selling 300 shares during the quarter. Hodges Capital Management Inc.’s holdings in AGCO were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of AGCO by 116.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 415 shares during the last quarter. JOYN Advisors Inc. increased its position in shares of AGCO by 109.5% during the 4th quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 448 shares during the last quarter. Private Capital Group LLC increased its position in shares of AGCO by 20.1% during the 4th quarter. Private Capital Group LLC now owns 1,092 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 183 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of AGCO by 183.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 729 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of AGCO during the 4th quarter valued at $136,000. 84.15% of the stock is owned by hedge funds and other institutional investors.
In other AGCO news, VP Gary L. Collar sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $64.44, for a total value of $322,200.00. Following the completion of the transaction, the vice president now owns 81,401 shares in the company, valued at approximately $5,245,480.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Lucinda B. Smith sold 3,300 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $65.00, for a total value of $214,500.00. Following the completion of the transaction, the senior vice president now owns 42,438 shares of the company’s stock, valued at approximately $2,758,470. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,300 shares of company stock valued at $8,498,631. 17.60% of the stock is owned by corporate insiders.
AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.09. AGCO had a return on equity of 10.27% and a net margin of 3.05%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $1.10 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts expect that AGCO Co. will post 4.67 earnings per share for the current year.
AGCO has been the subject of several recent research reports. Zacks Investment Research raised AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday. Royal Bank of Canada lifted their price objective on AGCO to $76.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Barclays lowered AGCO from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $64.00 to $63.00 in a report on Wednesday, January 23rd. Credit Suisse Group reissued a “hold” rating and issued a $63.00 price objective on shares of AGCO in a report on Tuesday, January 22nd. Finally, OTR Global raised AGCO to a “positive” rating in a report on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.08.
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AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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