FDx Advisors Inc. bought a new stake in shares of AGCO Corporation (NYSE:AGCO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,177 shares of the industrial products company’s stock, valued at approximately $308,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in AGCO by 50.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock worth $175,222,000 after purchasing an additional 866,708 shares during the period. FMR LLC raised its position in AGCO by 23.6% in the 2nd quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after purchasing an additional 306,505 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new stake in AGCO in the 3rd quarter worth about $17,343,000. Canada Pension Plan Investment Board raised its position in AGCO by 48.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock worth $47,140,000 after purchasing an additional 227,300 shares during the period. Finally, JPMorgan Chase & Co. raised its position in AGCO by 44.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 519,596 shares of the industrial products company’s stock worth $35,016,000 after purchasing an additional 161,023 shares during the period. Hedge funds and other institutional investors own 82.63% of the company’s stock.
A number of research firms recently weighed in on AGCO. J P Morgan Chase & Co lowered shares of AGCO from a “neutral” rating to an “underweight” rating and set a $65.00 price objective on the stock. in a research report on Tuesday, October 10th. Deutsche Bank reissued a “buy” rating and issued a $86.00 price objective (down from $90.00) on shares of AGCO in a research report on Monday, October 9th. Bank of America lowered shares of AGCO from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $74.65 to $70.00 in a research report on Friday, October 13th. Zacks Investment Research lowered shares of AGCO from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub lowered shares of AGCO from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. AGCO presently has a consensus rating of “Hold” and an average price target of $70.47.
In other AGCO news, SVP Robert B. Crain sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $70.72, for a total value of $495,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.60% of the stock is owned by company insiders.
AGCO Corporation (AGCO) traded up $1.06 during midday trading on Thursday, hitting $71.77. 682,140 shares of the stock were exchanged, compared to its average volume of 639,781. The company has a market capitalization of $5,740.00, a P/E ratio of 25.91, a PEG ratio of 1.80 and a beta of 0.82. AGCO Corporation has a 1 year low of $57.06 and a 1 year high of $75.58. The company has a current ratio of 1.51, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63.
AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.92 billion. AGCO had a net margin of 2.59% and a return on equity of 7.50%. AGCO’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. equities research analysts expect that AGCO Corporation will post 3.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.56 annualized dividend and a yield of 0.78%. AGCO’s dividend payout ratio (DPR) is 22.05%.
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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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