AMG Funds LLC Has $1.35 Million Position in AGCO Corporation (AGCO)
AMG Funds LLC trimmed its position in shares of AGCO Corporation (NYSE:AGCO) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,998 shares of the industrial products company’s stock after selling 2,383 shares during the period. AMG Funds LLC’s holdings in AGCO Corporation were worth $1,348,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in AGCO Corporation by 22.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 400 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in AGCO Corporation by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 106 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in AGCO Corporation by 59.1% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 1,300 shares during the last quarter. Advisor Partners LLC bought a new position in AGCO Corporation during the 2nd quarter valued at about $212,000. Finally, Eqis Capital Management Inc. bought a new position in AGCO Corporation during the 1st quarter valued at about $246,000. Institutional investors own 80.68% of the company’s stock.
Several equities research analysts have issued reports on the stock. William Blair raised shares of AGCO Corporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 11th. BidaskClub raised shares of AGCO Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Bank of America Corporation raised shares of AGCO Corporation from an “underperform” rating to a “neutral” rating in a research report on Monday, June 19th. BMO Capital Markets boosted their price objective on shares of AGCO Corporation from $55.00 to $70.00 and gave the company a “market perform” rating in a research report on Tuesday, May 30th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $64.00 price objective on shares of AGCO Corporation in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $65.73.
Shares of AGCO Corporation (AGCO) traded up 1.62% during midday trading on Friday, hitting $67.80. 455,658 shares of the stock traded hands. AGCO Corporation has a 52-week low of $46.22 and a 52-week high of $73.97. The stock has a 50-day moving average of $69.53 and a 200-day moving average of $65.13. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 29.65 and a beta of 0.88.
AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. On average, equities analysts predict that AGCO Corporation will post $3.06 earnings per share for the current fiscal year.
The firm 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 $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio (DPR) is currently 24.56%.
In related news, CFO Andrew H. Beck sold 10,000 shares of AGCO Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the transaction, the chief financial officer now owns 142,079 shares in the company, valued at $10,255,262.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert B. Crain sold 15,000 shares of AGCO Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $71.78, for a total transaction of $1,076,700.00. Following the completion of the transaction, the senior vice president now owns 89,322 shares of the company’s stock, valued at approximately $6,411,533.16. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock valued at $1,921,390 in the last 90 days. Company insiders own 16.60% of the company’s stock.
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About AGCO Corporation
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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