Legal & General Group Plc Acquires 3,540 Shares of AGCO Corporation (AGCO)
Legal & General Group Plc lifted its holdings in shares of AGCO Corporation (NYSE:AGCO) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,907 shares of the industrial products company’s stock after purchasing an additional 3,540 shares during the period. Legal & General Group Plc owned about 0.18% of AGCO Corporation worth $9,900,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in AGCO Corporation by 2,706.4% in the 1st quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock worth $392,938,000 after acquiring an additional 6,296,716 shares during the period. Vanguard Group Inc. grew its stake in AGCO Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after acquiring an additional 232,091 shares during the period. Dimensional Fund Advisors LP grew its stake in AGCO Corporation by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,791,183 shares of the industrial products company’s stock worth $167,973,000 after acquiring an additional 46,690 shares during the period. Victory Capital Management Inc. purchased a new stake in AGCO Corporation in the 1st quarter worth approximately $104,317,000. Finally, Thrivent Financial For Lutherans grew its stake in AGCO Corporation by 2.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 1,181,275 shares of the industrial products company’s stock worth $71,089,000 after acquiring an additional 32,890 shares during the period. 80.68% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Robert B. Crain sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the sale, the senior vice president now directly owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew H. Beck sold 10,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $72.18, for a total transaction of $721,800.00. Following the sale, the chief financial officer now directly owns 142,079 shares of the company’s stock, valued at $10,255,262.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,750 shares of company stock valued at $1,921,390. 16.60% of the stock is owned by insiders.
Several research firms have commented on AGCO. Jefferies Group LLC reaffirmed a “hold” rating and issued a $75.00 target price on shares of AGCO Corporation in a research note on Thursday, August 31st. BidaskClub cut shares of AGCO Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. William Blair raised shares of AGCO Corporation from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 11th. BMO Capital Markets lifted their target price on shares of AGCO Corporation from $55.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 30th. Finally, UBS Group AG reaffirmed a “neutral” rating and issued a $73.00 target price (up from $68.00) on shares of AGCO Corporation in a research note on Monday, July 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 stock. The company currently has a consensus rating of “Hold” and an average target price of $65.73.
AGCO Corporation (AGCO) opened at 68.41 on Tuesday. The firm has a 50 day moving average of $69.97 and a 200-day moving average of $65.04. AGCO Corporation has a one year low of $46.22 and a one year high of $73.97. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 29.91 and a beta of 0.88.
AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. AGCO Corporation’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. Equities research analysts forecast that AGCO Corporation will post $3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio is currently 24.56%.
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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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