Victory Capital Management Inc. grew its position in AGCO Co. (NYSE:AGCO) by 9.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,125,516 shares of the industrial products company’s stock after purchasing an additional 280,561 shares during the quarter. Victory Capital Management Inc. owned approximately 3.95% of AGCO worth $190,000,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in AGCO. Whittier Trust Co. acquired a new stake in shares of AGCO in the second quarter worth $124,000. Convergence Investment Partners LLC grew its stake in shares of AGCO by 1,586.6% in the second quarter. Convergence Investment Partners LLC now owns 3,407 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 3,205 shares during the last quarter. CHICAGO TRUST Co NA acquired a new stake in shares of AGCO in the third quarter worth $244,000. FDx Advisors Inc. grew its stake in shares of AGCO by 21.7% in the second quarter. FDx Advisors Inc. now owns 5,483 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 978 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of AGCO by 45.8% in the second quarter. Toronto Dominion Bank now owns 6,349 shares of the industrial products company’s stock worth $386,000 after acquiring an additional 1,993 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on AGCO shares. OTR Global downgraded shares of AGCO to a “$60.18” rating in a research note on Wednesday, July 18th. TheStreet upgraded shares of AGCO from a “c+” rating to a “b-” rating in a research note on Tuesday, July 31st. Deutsche Bank restated a “buy” rating on shares of AGCO in a research note on Monday, September 24th. Jefferies Financial Group restated a “hold” rating and issued a $70.00 price objective on shares of AGCO in a research note on Friday, July 20th. Finally, ValuEngine upgraded shares of AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $69.92.
AGCO opened at $58.53 on Friday. AGCO Co. has a fifty-two week low of $49.50 and a fifty-two week high of $75.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 1.42. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 0.92 and a beta of 0.70.
AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. AGCO had a net margin of 2.49% and a return on equity of 9.70%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that AGCO Co. will post 3.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. AGCO’s payout ratio is presently 19.87%.
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.
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