Pacer Advisors Inc. raised its holdings in shares of AGCO Corporation (NYSE:AGCO) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,798 shares of the industrial products company’s stock after purchasing an additional 1,206 shares during the quarter. Pacer Advisors Inc.’s holdings in AGCO were worth $870,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Capstone Asset Management Co. lifted its holdings in shares of AGCO by 4.9% during the second quarter. Capstone Asset Management Co. now owns 8,540 shares of the industrial products company’s stock worth $576,000 after buying an additional 400 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of AGCO during the second quarter worth $1,398,000. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of AGCO by 504.2% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 10,440 shares of the industrial products company’s stock worth $704,000 after buying an additional 8,712 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of AGCO by 4.2% during the second quarter. Aperio Group LLC now owns 34,045 shares of the industrial products company’s stock worth $2,294,000 after buying an additional 1,381 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its holdings in shares of AGCO by 1.5% during the second quarter. State Treasurer State of Michigan now owns 27,500 shares of the industrial products company’s stock worth $1,853,000 after buying an additional 400 shares in the last quarter. 82.03% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Hans Bernd Veltmaat sold 750 shares of AGCO stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total transaction of $49,890.00. Following the sale, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at $4,560,079.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.60% of the company’s stock.
AGCO has been the subject of a number of research reports. UBS AG reissued a “neutral” rating and set a $73.00 target price (up previously from $68.00) on shares of AGCO in a report on Monday, July 31st. BMO Capital Markets raised their price target on AGCO from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. BidaskClub cut AGCO from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $66.00 price target on AGCO and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $75.00 price target on shares of AGCO in a research report on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $69.07.
Shares of AGCO Corporation (NYSE AGCO) opened at $69.99 on Friday. AGCO Corporation has a 12 month low of $55.45 and a 12 month high of $75.58. The company has a market capitalization of $5,567.63, a PE ratio of 25.36, a PEG ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 1.51.
AGCO (NYSE:AGCO) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.07. AGCO had a return on equity of 7.50% and a net margin of 2.59%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. sell-side analysts anticipate that AGCO Corporation will post 3.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 14th. AGCO’s payout ratio is 22.05%.
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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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