Riverhead Capital Management LLC Grows Holdings in AGCO Co. (NYSE:AGCO)

Riverhead Capital Management LLC grew its stake in AGCO Co. (NYSE:AGCO) by 128.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 30,305 shares of the industrial products company’s stock after buying an additional 17,014 shares during the quarter. Riverhead Capital Management LLC’s holdings in AGCO were worth $2,108,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. grew its stake in AGCO by 116.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock worth $43,000 after buying an additional 415 shares in the last quarter. JOYN Advisors Inc. grew its stake in AGCO by 109.5% in the 4th quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock worth $48,000 after buying an additional 448 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in AGCO by 183.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the industrial products company’s stock worth $63,000 after buying an additional 729 shares in the last quarter. Investors Research Corp purchased a new position in AGCO in the 1st quarter worth approximately $94,000. Finally, Advisor Group Inc. grew its stake in AGCO by 40.2% in the 1st quarter. Advisor Group Inc. now owns 1,423 shares of the industrial products company’s stock worth $99,000 after buying an additional 408 shares in the last quarter. 80.88% of the stock is owned by institutional investors and hedge funds.

NYSE:AGCO opened at $72.38 on Friday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.09 and a beta of 0.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.30 and a quick ratio of 0.54. AGCO Co. has a fifty-two week low of $49.50 and a fifty-two week high of $75.56.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.44. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. AGCO had a net margin of 3.49% and a return on equity of 11.62%. AGCO’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. Equities research analysts expect that AGCO Co. will post 4.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.16 per share. This is a positive change from AGCO’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is currently 16.45%.

A number of equities analysts have commented on AGCO shares. ValuEngine raised shares of AGCO from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research raised shares of AGCO from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Tuesday, April 16th. Deutsche Bank set a $76.00 price objective on shares of AGCO and gave the company a “buy” rating in a research note on Friday, March 8th. UBS Group upped their price objective on shares of AGCO from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Citigroup upped their price objective on shares of AGCO from $65.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $71.50.

In other AGCO news, Chairman Martin Richenhagen sold 102,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.19, for a total transaction of $7,159,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert B. Crain sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the sale, the senior vice president now owns 81,914 shares of the company’s stock, valued at $5,968,254.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,000 shares of company stock valued at $19,869,380. 17.60% of the stock is owned by company insiders.

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AGCO 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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Institutional Ownership by Quarter for AGCO (NYSE:AGCO)

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