BB&T Securities LLC Sells 2,082 Shares of AGCO Corporation (AGCO)
BB&T Securities LLC cut its position in AGCO Corporation (NYSE:AGCO) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,232 shares of the industrial products company’s stock after selling 2,082 shares during the period. BB&T Securities LLC’s holdings in AGCO Corporation were worth $1,498,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of AGCO Corporation by 22.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock worth $132,000 after buying an additional 400 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock worth $203,000 after buying an additional 106 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after buying an additional 1,300 shares in the last quarter. Advisor Partners LLC purchased a new position in shares of AGCO Corporation during the second quarter worth about $212,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of AGCO Corporation during the first quarter worth about $246,000. Institutional investors own 85.65% of the company’s stock.
AGCO Corporation (AGCO) opened at 66.90 on Friday. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97. The firm has a market capitalization of $5.32 billion, a PE ratio of 29.25 and a beta of 0.86. The stock has a 50 day moving average of $70.21 and a 200-day moving average of $64.92.
AGCO Corporation (NYSE:AGCO) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. AGCO Corporation’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. On average, equities analysts predict that AGCO Corporation will post $3.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, August 11th. AGCO Corporation’s dividend payout ratio is presently 24.56%.
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AGCO has been the subject of a number of recent research reports. TheStreet upgraded shares of AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, July 27th. BidaskClub upgraded shares of AGCO Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Credit Suisse Group set a $60.00 price objective on shares of AGCO Corporation and gave the stock a “hold” rating in a research report on Sunday, April 30th. Royal Bank Of Canada restated a “hold” rating and set a $64.00 price objective on shares of AGCO Corporation in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC restated a “hold” rating and set a $61.00 price objective on shares of AGCO Corporation in a research report on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $64.80.
In related news, SVP Lucinda B. Smith sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $73.00, for a total value of $73,000.00. Following the sale, the senior vice president now owns 38,877 shares of the company’s stock, valued at approximately $2,838,021. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert B. Crain sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total value of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares in the company, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,000 shares of company stock worth $1,871,500. 16.60% of the stock is currently owned by company insiders.
AGCO Corporation 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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