AGCO Corporation (AGCO) Stake Decreased by Renaissance Technologies LLC
Renaissance Technologies LLC decreased its holdings in AGCO Corporation (NYSE:AGCO) by 9.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,600 shares of the industrial products company’s stock after selling 30,200 shares during the quarter. Renaissance Technologies LLC owned about 0.35% of AGCO Corporation worth $18,977,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BlueMountain Capital Management LLC acquired a new stake in shares of AGCO Corporation in the 2nd quarter worth $165,000. PNC Financial Services Group Inc. boosted its position in shares of AGCO Corporation by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 106 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of AGCO Corporation by 59.1% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 1,300 shares in the last quarter. Advisor Partners LLC acquired a new stake in shares of AGCO Corporation in the 2nd quarter worth $212,000. Finally, Riverhead Capital Management LLC boosted its position in shares of AGCO Corporation by 69.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,563 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 1,463 shares in the last quarter. 80.73% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on AGCO shares. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price objective on shares of AGCO Corporation in a research report on Thursday, August 31st. Deutsche Bank AG reissued a “buy” rating and issued a $86.00 price objective (down previously from $90.00) on shares of AGCO Corporation in a research report on Monday. BidaskClub cut AGCO Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. William Blair raised AGCO Corporation from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 11th. Finally, Bank of America Corporation raised AGCO Corporation from an “underperform” rating to a “neutral” rating in a research report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $68.36.
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AGCO Corporation (AGCO) opened at 74.65 on Friday. AGCO Corporation has a 52 week low of $48.93 and a 52 week high of $75.58. The company has a 50-day moving average price of $71.23 and a 200-day moving average price of $67.24. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 32.64 and a beta of 0.86.
AGCO Corporation (NYSE:AGCO) last announced its earnings results on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.11. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that AGCO Corporation will post $3.06 EPS for the current year.
In other news, SVP Hans Bernd Veltmaat sold 750 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total transaction of $49,890.00. Following the completion of the sale, the senior vice president now owns 68,552 shares in the company, valued at $4,560,079.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert B. Crain sold 15,000 shares of the stock in a transaction dated 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 sale, 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 have sold 26,750 shares of company stock valued at $1,921,390 in the last quarter. Insiders own 16.60% of the company’s stock.
AGCO Corporation 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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