Sumitomo Mitsui Trust Holdings Inc. trimmed its position in AGCO Corporation (NYSE:AGCO) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,597 shares of the industrial products company’s stock after selling 2,963 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of AGCO worth $15,536,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. BlueMountain Capital Management LLC acquired a new position in shares of AGCO during the 2nd quarter worth about $165,000. Toronto Dominion Bank grew its position in shares of AGCO by 240.4% during the 3rd quarter. Toronto Dominion Bank now owns 2,686 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,897 shares during the period. CIBC Asset Management Inc acquired a new position in shares of AGCO during the 3rd quarter worth about $204,000. Advisor Partners LLC acquired a new position in shares of AGCO during the 2nd quarter worth about $212,000. Finally, Numeric Investors LLC acquired a new position in shares of AGCO during the 2nd quarter worth about $229,000. Hedge funds and other institutional investors own 82.03% of the company’s stock.
AGCO Corporation (NYSE AGCO) opened at $69.99 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 0.70. AGCO Corporation has a 12-month low of $55.45 and a 12-month high of $75.58. The stock has a market capitalization of $5,567.63, a P/E ratio of 25.36, a P/E/G ratio of 1.76 and a beta of 0.82.
AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the firm earned $0.51 EPS. AGCO’s quarterly revenue was up 12.8% compared to the same quarter last year. research analysts anticipate that AGCO Corporation will post 3.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.14 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. AGCO’s dividend payout ratio is presently 22.05%.
In related news, SVP Hans Bernd Veltmaat sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the transaction, the senior vice president now directly owns 68,552 shares in the company, valued at approximately $4,560,079.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on the company. J P Morgan Chase & Co lowered AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 target price for the company. in a research report on Tuesday, October 10th. Deutsche Bank AG restated a “buy” rating and set a $86.00 target price (down from $90.00) on shares of AGCO in a research report on Monday, October 9th. Bank of America Corporation lowered AGCO from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $74.65 to $70.00 in a research report on Friday, October 13th. Zacks Investment Research lowered AGCO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub lowered AGCO from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. AGCO presently has an average rating of “Hold” and a consensus price target of $69.07.
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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