Janney Montgomery Scott LLC cut its stake in shares of AGCO Co. (NYSE:AGCO) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,697 shares of the industrial products company’s stock after selling 1,292 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AGCO were worth $507,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of AGCO. Bank of Montreal Can raised its holdings in AGCO by 824.9% during the second quarter. Bank of Montreal Can now owns 1,102,403 shares of the industrial products company’s stock worth $85,513,000 after buying an additional 983,216 shares during the last quarter. APG Asset Management N.V. raised its holdings in AGCO by 672.0% during the second quarter. APG Asset Management N.V. now owns 679,400 shares of the industrial products company’s stock worth $46,278,000 after buying an additional 591,400 shares during the last quarter. Renaissance Technologies LLC raised its holdings in AGCO by 7,821.7% during the second quarter. Renaissance Technologies LLC now owns 364,400 shares of the industrial products company’s stock worth $28,267,000 after buying an additional 359,800 shares during the last quarter. Turiya Advisors Asia Ltd raised its holdings in AGCO by 120.6% during the second quarter. Turiya Advisors Asia Ltd now owns 650,673 shares of the industrial products company’s stock worth $50,473,000 after buying an additional 355,673 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in AGCO by 52.0% during the second quarter. AQR Capital Management LLC now owns 870,699 shares of the industrial products company’s stock worth $67,540,000 after buying an additional 298,036 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of AGCO stock opened at $79.11 on Thursday. AGCO Co. has a one year low of $51.48 and a one year high of $80.64. The firm has a 50-day moving average of $75.51 and a 200-day moving average of $73.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.31 and a quick ratio of 0.54. The company has a market cap of $6.12 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.16 and a beta of 0.98.
AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. AGCO had a net margin of 3.42% and a return on equity of 12.26%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, research analysts expect that AGCO Co. will post 5.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.64 dividend on an annualized basis and a yield of 0.81%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.
Several research analysts have weighed in on AGCO shares. Deutsche Bank set a $88.00 price objective on shares of AGCO and gave the stock a “buy” rating in a report on Wednesday, July 31st. OTR Global downgraded shares of AGCO to a “positive” rating in a report on Thursday, October 24th. ValuEngine downgraded shares of AGCO from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Citigroup lowered their target price on shares of AGCO from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Royal Bank of Canada set a $88.00 target price on shares of AGCO and gave the company a “buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. AGCO currently has an average rating of “Hold” and a consensus price target of $79.53.
In related news, VP Gary L. Collar sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $77.76, for a total transaction of $388,800.00. Following the completion of the sale, the vice president now owns 78,807 shares in the company, valued at $6,128,032.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $72.24, for a total transaction of $722,400.00. Following the sale, the chief financial officer now owns 138,218 shares of the company’s stock, valued at approximately $9,984,868.32. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $2,612,600 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.
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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