Russell Investments Group Ltd. Cuts Position in AGCO Co. (NYSE:AGCO)

Russell Investments Group Ltd. lessened its holdings in AGCO Co. (NYSE:AGCO) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 329,850 shares of the industrial products company’s stock after selling 10,995 shares during the period. Russell Investments Group Ltd. owned approximately 0.43% of AGCO worth $24,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in AGCO by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,126,409 shares of the industrial products company’s stock valued at $475,226,000 after purchasing an additional 246,730 shares during the last quarter. BlackRock Inc. lifted its stake in AGCO by 3.1% in the second quarter. BlackRock Inc. now owns 6,076,006 shares of the industrial products company’s stock valued at $471,315,000 after purchasing an additional 181,070 shares during the last quarter. Victory Capital Management Inc. lifted its stake in AGCO by 5.4% in the second quarter. Victory Capital Management Inc. now owns 3,114,857 shares of the industrial products company’s stock valued at $241,619,000 after purchasing an additional 158,274 shares during the last quarter. LSV Asset Management lifted its stake in AGCO by 0.9% in the second quarter. LSV Asset Management now owns 2,743,010 shares of the industrial products company’s stock valued at $212,775,000 after purchasing an additional 25,600 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in AGCO by 824.9% in the second quarter. Bank of Montreal Can now owns 1,102,403 shares of the industrial products company’s stock valued at $85,513,000 after purchasing an additional 983,216 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

In other news, CFO Andrew H. Beck sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $79.62, for a total value of $796,200.00. Following the transaction, the chief financial officer now owns 128,218 shares of the company’s stock, valued at $10,208,717.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gary L. Collar sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $77.76, for a total transaction of $388,800.00. Following the completion of the transaction, the vice president now directly owns 78,807 shares in the company, valued at approximately $6,128,032.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock worth $2,977,400. Insiders own 17.60% of the company’s stock.

A number of brokerages have issued reports on AGCO. Stifel Nicolaus raised shares of AGCO from a “hold” rating to a “buy” rating and boosted their target price for the company from $79.00 to $84.00 in a report on Friday, September 6th. 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. Citigroup lowered their target price on shares of AGCO from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised 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. Finally, ValuEngine cut shares of AGCO from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. AGCO presently has a consensus rating of “Hold” and a consensus target price of $79.53.

AGCO stock opened at $79.82 on Friday. The stock has a market cap of $6.02 billion, a P/E ratio of 20.52, a PEG ratio of 1.14 and a beta of 0.98. AGCO Co. has a fifty-two week low of $51.48 and a fifty-two week high of $80.64. The firm’s fifty day moving average price is $75.28 and its 200-day moving average price is $73.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.31.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.21 billion. AGCO had a net margin of 3.42% and a return on equity of 12.26%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Sell-side analysts predict that AGCO Co. will post 5.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.80%. AGCO’s payout ratio is currently 16.45%.

AGCO 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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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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