Oppenheimer Asset Management Inc. Decreases Position in AGCO Co. (AGCO)

Oppenheimer Asset Management Inc. cut its position in shares of AGCO Co. (NYSE:AGCO) by 14.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,068 shares of the industrial products company’s stock after selling 6,867 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.05% of AGCO worth $2,436,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AGCO. Allianz Asset Management GmbH grew its stake in AGCO by 26.8% in the first quarter. Allianz Asset Management GmbH now owns 6,263 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 1,322 shares in the last quarter. Principal Financial Group Inc. grew its stake in AGCO by 2.7% in the first quarter. Principal Financial Group Inc. now owns 288,845 shares of the industrial products company’s stock valued at $18,732,000 after purchasing an additional 7,589 shares in the last quarter. Suntrust Banks Inc. grew its stake in AGCO by 8.8% in the first quarter. Suntrust Banks Inc. now owns 23,106 shares of the industrial products company’s stock valued at $1,498,000 after purchasing an additional 1,866 shares in the last quarter. Moon Capital Management LLC grew its stake in AGCO by 5.3% in the second quarter. Moon Capital Management LLC now owns 37,809 shares of the industrial products company’s stock valued at $2,296,000 after purchasing an additional 1,907 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in AGCO by 40.2% in the second quarter. State of Alaska Department of Revenue now owns 7,330 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

A number of research analysts have weighed in on AGCO shares. OTR Global downgraded AGCO to a “$60.18” rating in a research note on Wednesday, July 18th. TheStreet upgraded 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 target on shares of AGCO in a research note on Friday, July 20th. Finally, ValuEngine upgraded AGCO from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.92.

NYSE:AGCO opened at $57.39 on Friday. The company has a market cap of $4.28 billion, a P/E ratio of 14.71, a PEG ratio of 0.92 and a beta of 0.70. The company has a quick ratio of 0.63, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. AGCO Co. has a 1-year low of $49.50 and a 1-year high of $75.95.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.08. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.15 billion. AGCO had a return on equity of 9.70% and a net margin of 2.49%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.76 EPS. As a group, equities research analysts forecast that AGCO Co. will post 3.74 earnings per share for the current 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 $0.15 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.60 annualized dividend and a yield of 1.05%. AGCO’s dividend payout ratio is presently 19.87%.

About AGCO

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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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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