Alberta Investment Management Corp acquired a new position in AGCO Co. (NYSE:AGCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,600 shares of the industrial products company’s stock, valued at approximately $1,408,000.
Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in AGCO in the second quarter valued at $50,000. First Interstate Bank acquired a new position in AGCO in the second quarter valued at $61,000. Doyle Wealth Management acquired a new position in AGCO in the second quarter valued at $78,000. SRS Capital Advisors Inc. acquired a new position in AGCO in the second quarter valued at $87,000. Finally, Point72 Asset Management L.P. acquired a new position in AGCO in the second quarter valued at $93,000. 81.82% of the stock is currently owned by institutional investors.
Shares of NYSE AGCO opened at $77.00 on Tuesday. The firm’s 50-day moving average price is $74.79 and its 200-day moving average price is $72.67. AGCO Co. has a 1-year low of $50.48 and a 1-year high of $80.64. The firm has a market capitalization of $5.95 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.08 and a beta of 0.97. The company has a current ratio of 1.29, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.
AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.23. AGCO had a net margin of 4.07% and a return on equity of 12.64%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities research analysts forecast that AGCO Co. will post 5.05 EPS for the current year.
In related news, CAO Lara Thrush Long sold 2,326 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $73.05, for a total value of $169,914.30. Following the sale, the chief accounting officer now owns 3,991 shares in the company, valued at approximately $291,542.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Robinson Smith sold 4,651 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $72.77, for a total transaction of $338,453.27. Following the completion of the sale, the vice president now owns 90,796 shares in the company, valued at approximately $6,607,224.92. The disclosure for this sale can be found here. Insiders have sold 41,977 shares of company stock worth $3,012,468 in the last quarter. Company insiders own 17.60% of the company’s stock.
AGCO has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of AGCO from $65.00 to $80.00 and gave the company a “market perform” rating in a report on Monday, September 16th. JPMorgan Chase & Co. upgraded shares of AGCO from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $77.00 to $82.00 in a report on Wednesday, September 11th. They noted that the move was a valuation call. Deutsche Bank set a $88.00 target price on shares of AGCO and gave the company a “buy” rating in a report on Wednesday, July 31st. Credit Suisse Group restated a “neutral” rating and issued a $83.00 target price (up previously from $70.00) on shares of AGCO in a report on Wednesday, July 31st. Finally, Wells Fargo & Co lowered shares of AGCO from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $90.00 to $80.00 in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.93.
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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